Cobo 2024: A Year of Innovation, Growth, and Unmatched Security
January 10, 2025
As 2024 draws to a close, we look back on a year that pushed the boundaries of what blockchain technology can achieve. From Bitcoin’s meteoric rise past $100,000 to the landmark approval of Bitcoin spot ETFs, the year has solidified cryptocurrency’s place in mainstream finance. For Cobo, this pivotal year wasn’t just about adapting to change—it was about leading it.
Our journey in 2024 has been defined by bold innovations, strategic partnerships, and an unwavering commitment to advancing security and scalability in digital asset management. These milestones mark a transformative chapter, not just for us, but for the broader blockchain ecosystem.
1. Redefining Bitcoin’s Potential and Layer 2 Ecosystems
Bitcoin’s evolution in 2024 has gone beyond being a store of value. As institutions sought scalable and programmable use cases, innovations in Layer 2 solutions, such as zk-rollups and the Lightning Network, unlocked new capabilities. This year, Bitcoin took center stage in decentralized finance (DeFi), reshaping its role in blockchain ecosystems.
Our Contributions to Bitcoin’s Future
Cobo played a key role in driving Bitcoin’s programmability and scalability, enabling institutions to harness its potential with unmatched security.
Self-Staking App for Babylon: We introduced a self-staking app that revolutionized how institutions engage with Bitcoin staking. Integrated into the Cobo Portal, it provides a seamless experience powered by MPC custody technology. Across three capped staking rounds, we dominated the market:
Cap 1: Secured over 70% market share, setting new standards for institutional staking.
Cap 2 & 3: Maintained leadership while expanding access through innovative staking rules. These results solidified our position as the premier custody solution for Bitcoin staking, blending scalability, governance, and security into a comprehensive package.
Driving Layer 2 Innovation: We advanced Bitcoin Layer 2 scalability through key partnerships with Merlin Chain and B² Network. For Merlin Chain, our MPC custody technology ensured secure cross-layer operations on its zk-rollup-based network, enabling institutions to engage confidently with Bitcoin Layer 2. Meanwhile, our collaboration with B² Network introduced a co-managed MPC custody solution and enhanced data availability, strengthening the infrastructure for zk-rollups and ensuring scalability for institutional adoption.
Enabling Programmable Bitcoin: Our collaboration with Fractal Bitcoin enhanced Bitcoin's native programmability by providing tools and frameworks that empower developers to build innovative solutions within the Bitcoin ecosystem. In parallel, our partnership with tBTC, which enables Bitcoin to bridge into Ethereum and Solana, unlocked new opportunities for cross-chain DeFi and expanding Bitcoin's utility beyond its native network.
By championing Bitcoin’s programmability and staking innovations, we contributed to its growing relevance in a multi-chain world.
2. Cobo Portal: Revolutionizing Custody and Operational Efficiency
As institutional engagement with digital assets deepened, the need for a unified custody platform became critical. In response, we launched the Cobo Portal, an all-in-one solution that simplifies asset management while setting new benchmarks in security and efficiency.
What Makes the Cobo Portal Revolutionary
The Cobo Portal seamlessly integrates four wallet technologies—Custodial, MPC, Smart Contract, and Exchange Wallets—into a single platform. This unified approach addresses the fragmented nature of asset management, offering:
Real-time dashboards for comprehensive portfolio insights.
Developer-friendly APIs to simplify integration and customization.
Advanced compliance tools to navigate regulatory complexities.
A Launch to Remember
Unveiled at The Westin Singapore, the Portal launch brought together industry leaders, including Babylon, Deribit, Figment, HashKey Wealth, Legend Trading, and 57Blocks. This event wasn’t just a product showcase; it was a testament to our vision for redefining digital asset management. By addressing pain points like fragmented wallet systems and operational inefficiencies, the Cobo Portal has become a cornerstone for institutional adoption.
3.Strengthening Ecosystems Through Strategic Partnerships
Collaboration has been the lifeblood of blockchain growth in 2024. This year, we worked closely with innovators across the industry to address challenges in scalability, security, and interoperability.
Key Partnerships That Shaped 2024
Enhancing Layer 2 and Cross-Chain Infrastructure
The rise of Layer 2 networks and cross-chain solutions transformed the blockchain landscape in 2024, paving the way for scalable and interoperable systems. Our contributions in this space provided the secure infrastructure needed for these advancements.
Scroll Integration: Collaborating with Scroll, we extended custodial and wallet support to Ethereum’s Layer 2 ecosystem. This partnership enhanced Ethereum’s scalability while maintaining developer-friendly infrastructure, enabling institutions to deploy solutions with ease.
tBTC Integration: Through our custodial wallet integration with tBTC, we enabled secure support for tokenized Bitcoin within Ethereum and Solana ecosystems. This integration allows institutions to access Bitcoin liquidity in cross-chain DeFi while ensuring their assets remain protected through our advanced custodial solutions.
Institutional Custody and Asset Protection
As digital assets gained traction with institutional investors, the demand for secure, compliant custody solutions surged. We addressed these needs through key partnerships that built trust and strengthened asset protection.
OneInfinity Insurance Collaboration: Partnering with OneInfinity, we delivered tailored specie insurance policies to institutional clients. This collaboration highlighted our commitment to end-to-end asset protection, bolstering confidence among high-value investors.
Pacific Waterdrip Collaboration: Supporting institutional funds in Hong Kong, we provided compliant and secure custody solutions tailored to the region’s regulatory requirements. By aligning with local frameworks, this partnership showcased our adaptability and expertise in regulated markets.
Empowering Exchanges and DeFi Projects
The rapid growth of decentralized finance (DeFi) and emerging exchanges required scalable, secure operational models. Leveraging our Wallet-as-a-Service (WaaS) platform, we empowered projects to thrive in competitive markets.
BIT Exchange Collaboration: By partnering with BIT Exchange, we enabled seamless BRC20 token trading and significantly reduced gas fees. This collaboration demonstrated the flexibility of our WaaS platform, enhancing trading efficiency for institutional users.
Supporting Staking and On-Chain Asset Management
As institutions increasingly turned to staking and on-chain asset management, secure and efficient solutions became paramount. Our partnerships enabled these institutions to confidently manage their on-chain operations.
StakeStone Partnership: We integrated our MPC technology into Ethereum staking processes for EigenLayer, improving security and operational efficiency. This partnership advanced accessibility to staking while mitigating risks for institutional users.
Manta Network Integration: By supporting custody and staking for MANTA tokens, we empowered institutions with our automated on-chain management tools. These innovations optimized asset management within DeFi ecosystems, ensuring operational efficiency and security.
4. Security Leadership: Meeting Evolving Challenges
With rising cyber threats and regulatory scrutiny, 2024 demanded resilience and innovation in security. At Cobo, we stepped up to these challenges with solutions that prioritized trust and adaptability.
SuperLoop: Redefining Institutional Settlement
In 2024, SuperLoop continued to set the standard for secure, off-exchange settlement, providing institutions with the tools to manage liquidity efficiently and trade confidently in volatile markets. Designed to address critical gaps in institutional trading infrastructure, SuperLoop enables automated, real-time fund transfers with minimal counterparty risk.
BitMart Partnership: Through its partnership with BitMart, a leading global exchange, Cobo’s SuperLoop has revolutionized the way institutions approach off-exchange settlements. By enabling automated fund transfers without the need for direct deposits on the exchange, SuperLoop reduces operational risks while optimizing liquidity management. This collaboration highlights the framework’s ability to provide robust, secure solutions for institutions navigating high-stakes trading environments.
Bitget Partnership: Building on the foundation of its 2023 integration with Bitget, SuperLoop continued to deliver transformative benefits to institutional investors in 2024. This partnership empowered users to execute trades directly on Bitget’s platform while securely holding assets off-exchange, safeguarded by Cobo’s cutting-edge MPC wallets and custodial wallet technologies.
Innovations in MPC Custody
MPC (Multi-Party Computation) technology remained central to our security strategy. By eliminating single points of failure, it provided institutions with robust solutions for high-value asset management.
5. Thought Leadership and Industry Engagement
2024 was a year of visibility and influence for Cobo. We shared our insights and solutions at leading global forums, reinforcing our commitment to shaping the blockchain ecosystem.
Key Events and Contributions
CTO Changhao Jiang highlighted Zero Trust principles in custody security.
CEO Discus Fish explored the convergence of AI and Web3, emphasizing the future of programmable blockchain technologies.
FT Live Exclusive Panel: Our COO, Lily Z. King participated in a distinguished panel with representatives from Blockchain Founders Fund, Sustainable Bitcoin Protocol, and Starry Veritas. The discussion focused on key themes shaping the digital asset landscape, including institutional adoption, market stability, and balancing risk and reward in investment strategies.
Cyberport Venture Capital Forum (Hong Kong): As the official Web3 wallet partner, we engaged directly with leaders from HashKey Group, The Sandbox, and Ava Labs, presenting solutions tailored for institutional adoption in Hong Kong.
Google Cloud x HashKey Group (Hong Kong): This collaboration showcased how our MPC technology enhances scalability and security for institutional clients, bridging gaps in blockchain infrastructure.
PPLI Forum Asia (Singapore): At this wealth management forum, we addressed regulatory challenges and presented custodial solutions designed for high-net-worth individuals (HNWIs).
Global FinTech Institute Networking Night (Singapore): We were honored with the Silver Partner Award, recognizing our contributions to blockchain and AI innovation alongside industry giants like Binance and HSBC.
6. A Reflective Look Back—and a Bold Vision Ahead
This year, we achieved milestones that redefined our role in the blockchain ecosystem:
Launched the Cobo Portal, a transformative custody platform.
Advanced Bitcoin’s programmability and Layer 2 capabilities.
Strengthened industry resilience with MPC and settlement innovations.
Fostered institutional adoption through strategic partnerships and global engagements.
As we look ahead to 2025, our mission remains unwavering: to build secure, scalable, and innovative infrastructure that empowers institutions and transforms how the world interacts with digital assets. Together, we’ll continue to push the boundaries of what’s possible.
Thank you for being part of our journey. Let’s shape the future of digital assets—together.
