In a groundbreaking partnership, ONTO Wallet has teamed up 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, integrating Web3 technology into real-world applications. This collaboration also highlights the potential of decentralized identity (DID) systems in revolutionizing digital banking.
DID systems are designed to help users directly govern their digital identities, providing a more private and secure alternative to traditional identification schemes. These systems are expected to play a significant role in the future of banking and DeFi, offering protection against fraud and malicious activities. The partnership between ONTO Wallet and Fiat24, which utilizes smart contracts and non-fungible tokens for client identity verification, represents a major step in this direction.
With over 1 million registered users in 156 countries, ONTO Wallet is a popular Web3 digital banking platform that has now partnered with Fiat24 to offer e-banking services directly from users’ wallets. Through the integration of the Fiat24 NFT, account holders can securely store their KYC data and other personal information to engage in DeFi safely, combining cryptocurrency investment and banking services in a single platform.
The ONT ID within ONTO Wallet gives users sovereignty over their assets on the chain and identity data, enhancing the platform’s capabilities in line with Web3 principles of data ownership. The integration of Fiat24 as a new tab in the ONTO app allows users to conveniently manage both fiat and digital money in one place, showcasing the practical applications of Web3 technologies in enhancing security through decentralized identity verification.
Looking ahead, Web3 services are set to redefine engagements within information and financial ecosystems by offering decentralized, user-oriented approaches that enable individuals to regain control over their identities and possessions. The partnership between ONTO Wallet and Fiat24 represents a significant step towards this future, demonstrating the potential of decentralized systems to enhance user autonomy and privacy in digital banking services. By combining the strengths of both platforms, users can enjoy a seamless and secure experience that leverages the power of NFTs and Web3 technology.
