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Cardano-Backed Project, COTI Skyrockets To About 100% Ahead of Visa Card Launch

Cardano-backed project Coti continues to see major price increase. For instance, its native $COTI token price spike does nearly 100$ increase in the past 30 days. Additionally, this is just ahead of the rollout of a Visa card after working with popular fintech firm Simplex.

Furthermore, Coti is launching a new service set to assist the bridge between fiat currencies and digital assets. More so, this will give clients access to open a new account with an IBAN and through it order a COTI Visa debit card. Then, they can use to pay for goods and services.

Additionally, The debit card will automatically convert crypto to fiat and also allow for ATM cash withdrawals in both SWIFT and SEPA regions. This of course, will make users top up their accounts with cryptocurrency and withdraw it as cash at ATMs. Meanwhile, the conversion occurs at the time of the withdrawal.

Coti has plans to integrate other features including loyalty-based plans to its offering. Consequentially, The announcement affecting the project’s $COTI token price with over 90% increase within the last 30 days. According to TradingView data, a record shows more than 350% increase over the past three months.

However, COTI is trading at $0.61 after kicking off the year at $0.05. Moving further, Cardano’s venture fund cFund gives $500,000 to the project earlier this year. cFund, in July launches with $20 million as a joint venture between Cardano builder IOHK and Los Angeles-based Wave Financial. Of course, with its purpose of helping the Cardano ecosystem grow.

Coinbase lists the token which adds boost to it liquidity. This makes the token go through the “Coinbase effect”, seeing a temporarily surge.

“COTI is launching on & in the iOS & Android apps within the next 15 mins…”
“….You may need to update your app to buy, sell, convert, send, receive or store COTI. We will update when fully live.”
— Coinbase (@coinbase) August 27, 2021

Cardano founder Charles Hoskinson goes on to reveal how he believes the infrastructure on the cryptocurrency’s blockchain will be good enough to “run a nation-state” in the future.

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