ONTO Wallet has partnered with Swiss fintech Fiat24 to offer NFT-powered digital banking services. Users can now open Swiss IBAN accounts within the ONTO app and manage their tokens seamlessly. This partnership integrates Web3 technology into real-world applications. It also highlights the potential of decentralized identity systems (DID) in revolutionizing digital banking.
Fiat24 and ONTO Wallet offer Swiss IBAN accounts via NFT integration
DID systems help users directly manage their digital identity, which is more private and secure than traditional identification systems. These systems are expected to play an important role in the future of banking and DeFi. These systems also protect users from fraud and malicious activity.
It has now partnered with ONTO Wallet, a Web3 digital banking platform known as Fiat24. The highly popular ONTO Wallet currently has over 1 million registered users in 156 countries. This new partnership with Fiat24, which is part of Arbitrum to develop engagement, allows customers to use e-banking from their wallet. Looking at the selection criteria, Fiat24 is notable because it uses smart contracts and regulates customers’ identities using non-fungible tokens.
This integration allows anyone using the ONTO application to open Swiss IBAN accounts directly in the app. In this way, it combines cryptocurrency investments and banking services. The Fiat24 NFT allows the account holder to securely store the KYC details and other personal details to participate in DeFi safely.
ONTO Wallet and Fiat24 partnership increase user autonomy and privacy
Unlike previous identities, the ONT-ID carried the identity information. It allows users to have sovereignty over their on-chain assets and identity data. It enhances the capabilities of ONTO, which adheres to Web3 values regarding data ownership within the integration.
Fiat24 is a new tab in the ONTO app where users can easily manage fiat and other digital money from the same home. This integration demonstrates the practical, real-world applications of Web3 technologies. Because it offers enhanced security through decentralized identity verification.
In the future, Web3 services will redefine engagement within information and related financial web ecosystems. Through decentralized, user-centric approaches, these technologies enable individuals to regain control of their identities and assets. The collaboration between ONTO Wallet and Fiat24 is an important step towards this future. This groundbreaking partnership demonstrates the potential of decentralized systems to improve user autonomy and privacy.
