Decentralized identity (DID) systems allow users to directly manage their digital identities, providing superior privacy and security compared to traditional identification systems. These systems are expected to play a crucial role in the future of banking and decentralized finance (#DeFi also protecting users against fraud and malicious activity.
#Fiat24 recently partnered with ONTO Wallet, a Web3 digital banking platform, to offer Swiss IBAN accounts via NFT integration. Fiat24, based on the #blockchain Arbitrum, uses smart contracts to manage customer identities through non-fungible tokens.
#ONTO Wallet, which has over a million registered users in 156 countries, now allows its users to open Swiss IBAN accounts directly in the app. This partnership makes it possible to combine cryptocurrency investment with traditional banking services. The #NFT Fiat24 allows the account holder to securely store KYC (Know Your Customer) data.
With this innovative integration, users can benefit from secure and accessible online banking services, strengthening engagement and trust in NFT-based digital banking solutions.