Upcoming Release: COTI Pay Business with an Enterprise Client

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COTI

4 min readAug 29, 2023

In 2022, COTI signed an agreement with a large enterprise in the gaming industry. Since then, we’ve been working hard to develop a feature-rich product that brings real value to our partner and its users.

Development is in the final stages of completion as we perform code auditing, security checks and penetration tests. As the technology needs to be able to securely and effortlessly process millions of dollars worth of value on a regular basis, we are employing industry’s best practices to deliver the best product possible.

While many of the finer details are still bound by confidentiality agreements, in this article, we’ll provide a deeper look into the technology (the solution) we are building.

The Solution

Multiple new stable coins, pegged to various currencies, using the CMD standard and other blockchains.
A router to seamlessly swap between various chains to CMD and vice versa
Cryptocurrency gateway to receive payments and make withdrawals
Deep integration to the enterprises’ payment system
Fiat on ramp

Our partner runs major gaming brands that services Asia, the UK, and many other countries across the world. While their platform already has crypto on and offramps, they have identified a need for additional functionality within their ecosystem that will be both cost effective, and scalable.

Our solution involves a blockchain-based Private Payment Network that is fully integrated into their platform. This network will give our partner the ability to receive crypto deposits from multiple chains, allowing instant settlement, inclusion and cost reduction for them and for their users.

Additionally, this network can be used to mint, issue and transact in new stablecoins pegged to various fiat currencies. Users will be incentivized to use the network and transact in these new stablecoins as it provides a significant operation cost saving for our partners. These transactions are routed through COTI’s infrastructure for scale, performance, cost-effectiveness and data management.

We’re building an efficient, feature-rich mechanism that is not only extremely beneficial for our partner, but also serves as a tool for greater crypto adoption in the gaming sector as a whole.

The User Experience

As the mentioned enterprise already accepts cryptocurrency deposits, we first explored blockchains that were compatible with their ecosystem. As a lot of our client’s users come from Asia, we opted to use an instance of the TRON blockchain on the client side with a COTI router in the middle. Over time, other chains will be added to the solution.

Essentially, our solution will operate as follows:

New stablecoins are minted. These new tokens are pegged to regional currencies preferred by our partner’s users.
Users acquire these stablecoins either through winning online games or purchasing via an integrated fiat onramp or a DEX.
User makes a deposit on our partner’s platform, using the cryptocurrency payment processing system
The stablecoin is converted to the corresponding CMD token via the COTI router.
The CMD tokens are transferred to the main enterprise pool for distribution and account crediting.

The CMD standard provides additional benefits to our partner including low-cost transactions, instant settlement and the ability to scale operations based on demand.

The process may sound complicated, but the entire transaction happens in the background with no additional input from the user. Without having to educate users on new, convoluted deposit methods, they go through a simple process — no different to other deposits they’ve done in the past.

Our partner benefits from operational flexibility and cost savings while the users are given more choice in the type of funds they can interact with.

What Does this Mean for COTI?

Without overselling it, this is a big deal for COTI. We’ve worked extremely hard on this project and it has finally matured to a point that it brings real value to our partner.

The solution uses technologies that have been in development for a long while, including the CMD tokens, the ability to swap between chains, stablecoins support, cryptocurrency payment processing and enterprise grade system management.

If all goes well, we expect to grow the usage of the product month by month, both with this enterprise and others to come. The success of this solution will help us develop an off-the-shelf product template that can be customized and offered to other clients in the future.