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COTI — Merchant Case Study:


COTI was contracted as a technology partner by MyFirstWallet to develop a payment system, using FIAT and BTC, utilising some of the white-labeled elements of COTI’s payment infrastructure.

The product has recently launched and is already generating revenue.


The merchant wanted to accept Bitcoin, but found that their users became very confused with opening an account on exchanges, or handling a BTC wallet and safeguarding their own keys.

The merchant was looking to develop a solution to allow its user base to buy, hold, send and sell Bitcoin. They also additionally required a FIAT on ramp to accept credit cards in order to buy the BTC.


Using COTI’s white-labeled payment infrastructure we were able to quickly launch a BTC wallet for the merchant. We have designed the wallet to be very easy to understand for non savvy users and have made it a custodian wallet so the users won’t need to handle their keys.

We then integrated a FIAT on-ramp, using VISA and Mastercard networks, through our partnership with Simplex and a FIAT off-ramp for 35 fiat currencies. We have also integrated our Merchant tools, including our Merchant CRM, so that the merchant can better manage their incoming revenue.

MyFirstWallet overview page
MyFirstWallet activity page

One cool feature that we have added is PayPal-like “payment requests”, where the merchant can send a customer a request for payment in BTC, which is then executed with one click by the consumer.

MyFirstWallet payment request popup

Finally, we have put the entire process on the Trustchain so that the merchant will have access both for instant settlement and for Defi products, like working capital loans.

Advantages For the Merchant

The merchant was pleased to learn that the adoption for the wallet was better than expected and that the wallet is doing what its name applies: being the first cryptocurrency wallet for users.

For COTI, as cryptocurrencies advocates, it’s always exciting to be able to introduce new people to cryptocurrencies.

The processing revenue is in constant growth, allowing the merchant to grow their business.

A great advantage for the merchant, that came to them as a surprise, was the introduction of “instant settlement” — being paid right away and not after a few days/weeks. The opportunity that positive cash flows brings to businesses is huge.

As the merchant gradually grows their processing volume, all the financial data is stored on the Trustchain and analyzed via COTI’s Trustscore algorithm. When enough data is accumulated, the merchant will have access to Defi based loans, allowing them to grow their business even more.

Business Model

MyFirstWallet is paying a processing fee for each transaction with COTI coins.
Current processing run rate is hundreds of thousand USD per month, with double digit growth.

Benefits For COTI Holders

  • All fees are paid with COTI coins, growing the demand in the open market for COTI’s native coin.
  • All transactions are mirrored to the Trustchain, generating extra fees for stakers and node operators.
  • Greater adoption to COTI’s technology and greater exposure grows our business and user base.

This type of technology integration is indicative of our whitelabel strategy approach for merchants. Past simply using the COTI network and our existing merchant toolset, because of the depth and flexibility of our payment infrastructure, we’re able to build bespoke payment solutions for enterprises that require branded solutions for distinct use cases.

This further extends the benefits described above for the network, network participants and the COTI coin as a whole, as COTI is paid directly in fiat to develop these bespoke solutions. This separates COTI from the majority of crypto projects as this means we are not reliant on selling our own token to fund our runway and we have multiple revenue streams that compliment the COTI ecosystem, including token holders, and COTI as a company.

Shahaf Bar-Geffen, COTI’s CEO:

“We are pushing forward with our white-label strategy, allowing more merchants and development groups to have access to our core infrastructure. With a single signed deal, we can have access to a huge user base, rapidly growing our adoption rate.

MyFirstWallet is generating processing fees, paid with COTI coins through our recently announced coin purchase program.

All transactions on MyFirstWallet are mirrored to the Trustchain, increasing the overall network turnover and usage, hence the increased rewards for node operators and stakers.

You can rely on our sales team to sign more deals in the foreseeable future”.

MyFirstWallet is now available on

See you soon with our next Merchant case study.




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COTI is a DAG-based Layer 1, specifically designed for Enterprises. COTI’s Protocol is scalable, fast, private, inclusive, low cost and is optimized for finance