The world of Web3 is rapidly changing how we interact with technology, and one of its most promising innovations is the decentralized identity (DID) system. Unlike traditional identification methods, DIDs allow users to maintain control over their digital identities, enhancing privacy and security. This development is particularly significant for the future of banking and decentralized finance (DeFi), providing a secure way for users to engage with these systems.

Enhanced Banking Through Web3 Integration

In an exciting development for the Web3 and DID landscape, Swiss fintech company Fiat24 has partnered with ONTO Wallet, a self-sovereign Web3 wallet. This partnership exemplifies the practical benefits of Web3 technologies, demonstrating how they can bring real-world advantages to users.

Centralized Identity vs. Decentralized Identity

With over 1 million registered users across 156 countries, ONTO Wallet is known for its comprehensive approach to managing digital identities, data, and assets. By integrating with Fiat24, ONTO expands its capabilities, offering enhanced e-banking services within its app. Fiat24 operates on the Arbitrum blockchain, known for its speed and low transaction costs, and it manages client identities through nonfungible tokens (NFTs).

Feature Centralized Identity Decentralized Identity
Data Storage Stored on a central server controlled by a single entity (e.g., government, company) Distributed across a network of computers (blockchain)
Data Ownership Owned by the central authority Owned by the user
Data Access Control Controlled by the central authority Controlled by the user
Security Vulnerable to single point of failure (security breaches) More resistant to cyberattacks due to distributed nature
Privacy Users have limited control over data sharing Users have greater control over what data is shared and with whom
Scalability Easier to scale for large user bases Can be more challenging to scale due to network complexity
User Experience Often simpler and more familiar for users May require more technical knowledge from users
Examples Social media logins, government-issued IDs Crypto wallets, self-sovereign identity (SSI) solutions

New Banking Features for ONTO Users

Through this integration, ONTO users can access a range of e-banking services directly from their wallets. The partnership allows them to open Swiss IBAN accounts within the ONTO app, merging digital asset management with traditional banking functions. By minting a Fiat24 NFT, users can securely store all their account data, including Know-Your-Customer (KYC) information, ensuring safe participation in DeFi activities.

Simplified Banking Experience with NFTs

Fiat24 simplifies a comprehensive banking suite into an easy-to-use experience through NFTs. Acting as a digital passport, ONT ID empowers users to control their on-chain assets and manage their identity data independently. This approach enhances data privacy and aligns with Web3 principles, where users retain ownership of their data. The ONTO app now includes a dedicated ‘Fiat24’ tab, allowing users to manage their finances seamlessly.

Benefits of the Integration

This integration offers numerous benefits. Users can manage both digital and traditional assets from a single interface, enjoying enhanced security through decentralized identity verification. The partnership between ONTO Wallet and Fiat24 showcases how Web3 technologies can provide practical, real-world applications that empower individuals by giving them control over their data.

The Future of Web3 Services and User Empowerment

The rise of Web3 services promises to revolutionize how we interact with digital and financial ecosystems. By restoring data ownership to users, these technologies enable individuals to take charge of their identities and assets in unprecedented ways. The collaboration between ONTO Wallet and Fiat24 is a visionary step toward this future, highlighting the potential of decentralized systems to enhance user autonomy and privacy.

A New Era of Digital Banking

As Web3 continues to evolve, its impact on digital banking becomes increasingly apparent. The integration of Fiat24 with ONTO Wallet is a significant milestone, demonstrating how decentralized technologies can enhance traditional banking services. Users can now enjoy the benefits of both worlds, managing their digital assets and traditional finances within a single, secure platform.

Empowering Users Through Decentralization

Decentralized identity systems are at the heart of this transformation, providing a more secure and private way to manage digital identities. By leveraging NFTs, Fiat24 ensures that user data is securely stored and easily accessible, aligning with the core principles of Web3. This approach not only enhances security but also empowers users by giving them control over their data.

ONTO Wallet: A Comprehensive Solution

With its robust user base and comprehensive features, ONTO Wallet is well-positioned to lead the charge in decentralized banking. The integration with Fiat24 further strengthens its offerings, providing users with a seamless and secure way to manage their finances. As more users adopt these technologies, the benefits of Web3 will become increasingly evident, driving further innovation and adoption.


The partnership between Fiat24 and ONTO Wallet represents a significant step forward in the evolution of digital banking. By combining the strengths of decentralized identity systems with traditional banking services, they offer a powerful solution that enhances user privacy, security, and control. As Web3 technologies continue to mature, we can expect to see even more innovative solutions that empower users and transform the way we interact with digital and financial ecosystems.