SINGAPORE – December 09, 2024 – Cobo, a leading provider of digital asset custody solutions, is thrilled to have been selected by Umoja Labs, the innovators behind $yBTC, the first yield-bearing Bitcoin. This collaboration marks a significant milestone in fortifying Umoja Labs' BTC custody infrastructure, empowering them to effectively meet the growing demands of their protocol as it scales.

Why Cobo

Umoja Labs selected Cobo for its Custodial Wallets infrastructure, which delivers tangible benefits including: 

• Seamless BTC Management: Cobo’s Custodial Wallets allow Umoja Labs to consolidate multiple deposit addresses into a single BTC vault, eliminating manual sweeps and operational inefficiencies. All incoming deposits are automatically consolidated into one balance, streamlining fund management and ensuring readiness for operational needs.

• Operational Agility: Designed to support high transaction volumes, Cobo’s solutions enable Umoja Labs to access funds instantly for trading and liquidity purposes. This enables seamless, immediate transfers to exchanges, ensuring efficient operations without bottlenecks or delays.

Robust Security Architecture

Cobo’s security-first design aligns perfectly with Umoja Labs’ commitment to safeguarding digital assets. Key features include:

• Bank-Grade Security: With a proven track record of zero security incidents, Cobo’s custody solutions incorporate automated KYC/AML compliance and continuous transaction monitoring, ensuring funds remain secure and fully compliant with industry standards.

• Customizable Permissions and Workflows: Advanced user permission settings and approval workflows empower Umoja Labs to maintain operational control while enabling team collaboration. From customizable transaction policies to operational support, Cobo’s platform ensures comprehensive oversight and effortless management of every detail.

Paving the Way for Scalable Growth

This partnership allows Umoja Labs to focus on its core mission: delivering a fast, efficient, and secure platform for yield-bearing Bitcoin. By choosing Cobo’s Custodial Wallets, Umoja Labs gains institutional-grade security and scalability, Umoja Labs is poised to scale its operations confidently, knowing its assets are protected and processes optimized.

As global adoption of digital assets accelerates, partnerships like this pave the way for a secure, efficient, and user-centric future in decentralized finance.

About Cobo

Cobo is a trusted leader in digital asset custody and wallet infrastructure, providing an all-in-one platform for organizations and developers to easily build, automate and scale their digital asset businesses securely.

Founded in 2017 by blockchain pioneers and headquartered in Singapore, Cobo is trusted by more than 500 leading digital asset businesses globally, safeguarding billions of dollars in assets. Today, Cobo offers the industry's only unified wallet platform that integrates all four digital asset wallet technologies – Custodial Wallets, MPC Wallets, Smart Contract Wallets, and Exchange Wallets. Committed to the highest security standards and regulatory compliance, Cobo has a zero-incident track record and holds ISO 27001, SOC2 (Type 1 and Type 2) certifications, as well as licenses in multiple jurisdictions. Recognized for its industry-leading innovations, Cobo has received accolades from prestigious entities such as Hedgeweek, Global Custodian, among others.

For more information, please visit www.cobo.com.

About Umoja

Backed by the likes of Coinbase, Blockchain Founders Fund, and Quantstamp amongst others, Umoja is a next-generation liquid staking protocol introducing Smartcoins: low-risk, high-yield LSTs supercharged by DeFi algo-trading. Umoja’s mission is to democratize wealth creating tools for everyone.

Visit https://umoja.xyz/ for more information.