- Crypto-powered payment platform COTI has been outlining its future plans.
- It aims to become a comprehensive next-gen financial ecosystem.
Crypto-powered payment platform COTI has been outlining its growth plans, as it aims to become a comprehensive “next-gen financial ecosystem.”
COTI, an enterprise-grade fintech startup whose products include stablecoins, credit cards, and even native merchant cryptocurrencies, laid out its roadmap in a lengthy medium post. The bulk of the post was dedicated to plans for the COTI Treasury, a decentralized pool of COTI tokens that facilitates borrowing, lending, and staking.
The new Treasury will replace COTI’s outgoing staking 3.0 program and enable users to tailor their own program according to their personal preference. Based on the post, “users will be able to set their staking level, staking period and even influence how the algorithm manages their leverage and risk level — all of which will determine the user’s specific reward and APY.”
With users of all COTI services paying fees in COTI directly into the Treasury, the capital-efficient system is said to combine the best of Defi and Staking 3.0. And also it is expected to increase demand for the native token over time. Interestingly, the Treasury has already been deemed “regulation-ready” due to COTI’s adherence to Know Your Customer (KYC) since the beginning.
There are also plans for the introduction of a governance structure and governance token, to ensure the Treasury is managed in a decentralized manner. Among their responsibilities, governors can have a say on such matters as interest rates and collateral.
Elsewhere, COTI detailed plans for a brand-new stablecoin built to support merchants rather than digital asset exchanges. Citing problems with existing fiat-pegged stablecoins such as Tether (USDT) and USD Coin (USDC), the platform predicts that uptake among merchants will result in substantial processing, network, and minting fees flowing into the Treasury.
COTI is also on the verge of launching bank accounts and debit cards, which will allow users to purchase goods and services online and in-store. Moreover, plans are afoot to integrate crypto-friendly COTI accounts with the COTI Pay VIPER wallets, and to roll out more tiers and plans for VIP customers.
In light of the platform’s bold vision, the performance of its eponymous token makes perfect sense. The value of COTI has been climbing steadily since late July, peaking at $0.42 on August 26 – its highest price since mid-May.
A day earlier, US cryptocurrency trading platform Coinbase Pro announced support for the asset, setting the stage for it to be traded against the US dollar.
An acronym for “currency of the internet,” COTI has delivered a number of impactful products since launching in 2017 at the height of the ICO boom. As well as its core payment-processing system COTI Pay, the platform has developed blockchain-based loyalty networks, remittance solutions, an NFT game, and the world’s first decentralized crypto volatility index.