SINGAPORE, December 16, 2024 - Cobo, a leading provider of digital asset custody solutions, has officially launched its one-stop stablecoin cross-border payment solution. This solution enables payment providers to quickly integrate stablecoin-based cross-border payment functionality into existing systems, similar to industry-leading platforms like Bridge.

As global trade and the digital economy accelerate, payment providers face growing demand for simplified cross-border payment processes and higher transaction efficiency. Stablecoins are rapidly emerging as the core solution for these challenges, offering unparalleled efficiency, transparency, and low costs. Cobo's solution addresses the complexities of traditional cross-border payments, reduces operational expenses, enhances transaction speed, and mitigates risks associated with fund transfers.

Key Features of the Solution:

• Flexible Digital Wallet Technology: Supports multi-currency, multi-chain transactions, stablecoin transfers, and digital wallet management, enabling businesses to optimize asset management and movement.

• Risk Control and Compliance Management: Built-in intelligent risk control rules and compliance mechanisms ensure the security and legality of cross-border transactions.

• One-Stop Integration: Streamlines integration with compliant payment platforms and bank account setup services, ensuring seamless fund clearing, reduced operational complexity, and enhanced efficiency for businesses.

Two Deployment Modes to Meet Diverse Needs:

• Custodial Mode: Leverages Cobo’s bank-grade custodial wallets, where Cobo manages custody of the assets on behalf of payment enterprises. This mode simplifies digital asset management, enabling seamless operations within a compliant framework.

• Self-Custodial Mode: Utilizes Cobo’s Multi-Party Computation (MPC) technology, enabling payment providers to retain full control over the assets. This mode empowers businesses to define custom risk control rules while ensuring secure and flexible asset management without relying on third-party custody.

Cobo’s solution has proven its effectiveness in real-world applications. One payment provider integrated Cobo’s digital asset wallet infrastructure into its existing system within two weeks, enabling its first stablecoin cross-border transaction and unlocking new growth opportunities. 

“The rapid expansion of global trade and the digital economy has intensified the demand for efficient and secure payment solutions. Stablecoins have emerged as the dominant solution due to their unique advantages. Backed by our deep technical expertise in digital assets and compliance strengths, Cobo is committed to delivering innovative payment solutions that help businesses navigate the complexities of cross-border transactions with ease,” said Discus Fish, Co-Founder and CEO of Cobo. 

Cobo has partnered with industry leaders, including compliant stablecoin issuers, crypto-friendly banks, payment platforms, KYT vendors, and card networks, to establish a robust payment ecosystem. This solution enables payment providers to deliver seamless stablecoin payment services, greatly improving cross-border payment efficiency and enhancing the user experience.

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.