Cobo Company Profile

Background

Founded in 2017 and headquartered in Singapore, Cobo is a leading global provider of digital asset custody solutions. The company offers a comprehensive suite of services designed to enable secure and efficient management of digital assets, facilitating safe interactions with Web 3.0. Cobo's mission is to inspire confidence in digital asset ownership by delivering industry-leading custody technologies. The company serves over 500 institutional clients worldwide, safeguarding billions of dollars in assets.

Key Strategic Focus

Cobo's strategic focus centers on providing a unified digital asset wallet platform that integrates multiple wallet technologies, including custodial wallets, multi-party computation (MPC) wallets, smart contract wallets, and exchange wallets. This omni-custody approach caters to the unique needs of institutional clients, ranging from traditional financial institutions to crypto-native firms. By combining a comprehensive suite of wallet solutions with advanced risk controls and developer tools, Cobo empowers organizations and developers to innovate and scale their digital asset operations efficiently.

Financials and Funding

Cobo has successfully raised a total of $53 million in funding over two rounds. In October 2018, the company secured $13 million in a Series A round, followed by a $40 million Series B round in September 2021. Notable investors include DST Global, A&T Capital, IMO Ventures, and DHVC Capital. The capital raised is intended to enhance Cobo's custody solutions, expand its global presence, and further develop its technological platforms.

Technological Platform and Innovation

Cobo distinguishes itself through its proprietary omni-custody platform, which integrates various wallet technologies to provide a comprehensive solution for digital asset management. The platform includes:

Custodial Wallets: Centralized custody solutions utilizing hardware security modules (HSM) for secure asset storage.

MPC Wallets: Co-managed custody solutions based on multi-party computation, enhancing security by distributing private key control.

Smart Contract Wallets: Decentralized custody solutions leveraging smart contracts for self-custody.

Exchange Wallets: Wallet solutions tailored for cryptocurrency exchanges, ensuring secure and efficient asset management.

Additionally, Cobo offers Wallet-as-a-Service, SuperLoop (an off-exchange settlement network), and Argus (an on-chain digital asset management platform). The company's commitment to security is evidenced by its SOC 2 Type 1 and Type 2 compliance certifications and licenses in the US, Singapore, Hong Kong, and Lithuania.

Leadership Team

Shixing "Discus Fish" Mao: Co-Founder and CEO. Prior to founding Cobo, Mao co-founded F2Pool, one of the world's largest mining pools, and has been a prominent figure in the blockchain community.

Changhao Jiang: Co-Founder and CTO. Jiang is a former Facebook engineer and co-founder of Bihang, a Bitcoin wallet acquired by OKCoin.

Lily King: Chief Operating Officer. King brings extensive experience in operations and has been instrumental in scaling Cobo's global presence.

Jeanette Tai: Chief of Staff. Tai plays a pivotal role in overseeing strategic initiatives and organizational development.

Competitor Profile

Market Insights and Dynamics

The digital asset custody market has experienced significant growth, driven by increased institutional adoption of cryptocurrencies and the need for secure storage solutions. The market is characterized by rapid technological advancements, evolving regulatory landscapes, and a competitive environment with multiple players offering diverse custody solutions.

Competitor Analysis

Cobo operates in a competitive landscape alongside several key players:

STON.fi: Develops an automated market maker (AMM) platform, focusing on decentralized finance solutions.

EvenFi (Criptalia): Offers a peer-to-peer blockchain investment platform, enabling direct investments in projects.

MaiCapital: A cryptocurrency asset investment company providing fund management services.

InfStones: Provides blockchain infrastructure services, including node management and staking solutions.

These competitors focus on various aspects of the blockchain and cryptocurrency ecosystem, from investment platforms to infrastructure services, highlighting the diverse approaches within the industry.

Strategic Collaborations and Partnerships

Cobo has established strategic partnerships with leading companies in the blockchain and cryptocurrency industry to enhance its service offerings and expand its market reach. These collaborations enable Cobo to integrate with various blockchain networks, support a wide range of digital assets, and provide comprehensive solutions to its clients.

Operational Insights

Cobo's strategic positioning as an omni-custody platform offers distinct competitive advantages:

Comprehensive Solutions: By integrating multiple wallet technologies, Cobo provides a one-stop solution for institutional clients, reducing the complexity of managing digital assets across different platforms.

Security and Compliance: Cobo's adherence to stringent security standards and regulatory compliance builds trust among clients, differentiating it from competitors.

Global Reach: With a presence in key markets across Asia, Europe, the Middle East, and the Americas, Cobo effectively serves a diverse client base.

Strategic Opportunities and Future Directions

Cobo is poised to capitalize on several strategic opportunities:

Expansion into Emerging Markets: By entering regions with growing interest in digital assets, Cobo can tap into new client bases.

Enhancing DeFi Integration: Developing solutions that facilitate secure participation in decentralized finance can attract clients seeking exposure to this rapidly growing sector.