At Umoja, as we release the first yield-bearing Bitcoin ($yBTC), safeguarding our digital assets is essential to ensuring the trust and efficiency of our operations and for our users. That's why we’re thrilled to announce our partnership with Cobo, a leading provider of custodial wallet solutions.

This collaboration is more than just a business decision— it’s a step forward in streamlining our BTC custody infrastructure to meet the demands of our protocol as we grow.

Why Cobo?

With Cobo’s custodial wallet, we can create a single BTC vault and link it to multiple deposit addresses. This means we no longer have to deal with manual sweeps or operational headaches when managing incoming transactions. All deposits are automatically consolidated into one balance, ready for use when we need it.

Cobo also gives our team the most flexibility for our workflow. Since our protocol often requires high transaction volumes and quick access to funds for trading, Cobo’s solution gives us the freedom to send funds immediately to exchanges without bottlenecks or delays.

Security We Can Trust

The bank-grade security architecture of Cobo, including automated KYC/AML compliance, ensures that our funds are safe and every transaction is monitored against industry-best standards. Their flawless track record is a critical factor in choosing them as one of our chosen custodial partners.

Advanced user permissions and approval workflows allow us to empower our team while maintaining control. From customizable transaction policies to seamless operational support, Cobo’s platform makes it easy to stay on top of every detail.

This partnership allows us to focus on what we do best—delivering a fast, efficient, and secure platform for our users. By working with Cobo, we can scale confidently, knowing our assets are protected and our processes are optimized.

Where Cobo Sits In Our User Flow

Minting yBTC on Umoja Protocol:

Step 1: Enter the amount of Bitcoin you want to deposit. All Bitcoin is institutionally custodied so you don't have to worry about facilitating a deposit.

Step 2: Once you enter the deposit amount, you will be provided with a quote amount of yBTC that you will get in exchange. The quote can be accepted by clicking the ‘Accept Quote’ button and signing the confirmation transaction via your MetaMask wallet.

Step 3: Afterwards, a modal will prompt you to deposit your Bitcoin. This is where Cobo comes into our user flow when minting yBTC. 📌

Please make sure to either scan the QR code or copy the Bitcoin address and enter it into your Bitcoin wallet so that you deposit it to the correct address. This is the address for Cobo, where your BTC will be custodied.In exchange for minting yBTC, you will also be rewarded with Umoja tokens, which you can  later stake for more Bitcoin.

Step 4: After you finalize your deposit, the minting process will take 10 to 40 minutes. You will be able to track this process and the time at which your yBTC is sent to your  wallet via the transaction tracking dashboard.

Aaaand that's it!

Once your yBTC is minted, your Bitcoin will start to earn more Bitcoin.

For more information on how to mint yBTC, watch the tutorial on HERE.

If you’re as excited as we are about this next chapter, stay tuned for more updates.

A big thanks to the Cobo team for helping us make the important move to have our users’ BTC safe and secured! 🔒