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2021: Raising $40 million
At the end of September 2021, the Singapore crypto asset management platform Cobo attracted an investment of $40 million to develop decentralized finance, such as services for investigating crimes committed using electronic media (DFaaS). The financing round was conducted by a group of investors led by DST SoundYuri Milner, as well as with the participation of A&T Capital and IMO Ventures.
Cobo will direct the funds received to the development of the infrastructure of decentralized financial services (DeFi) as a service (DFaaS) and existing depositary services, trading and stealing or storage as a service (StaaS). The funding will also be used to apply for regulatory licences to ensure strict compliance with the relevant anti-money laundering and anti-terrorist financing requirements.
Amid growing interest in cryptocurrencies among Asian investors, institutional investors and retail investors are looking for diversification options to hedge against inflation and other risks, Cobo said in a statement.
Unlike the existing platforms of DeFi as the service (DFaaS) of the Cobo company allows users to allocate personnel from among institutional investors, even the computerized boats, powers for performance of operations of various risk. Low-risk transactions can be automated by bots, while high-risk transactions, such as the movement of large sums, still require confirmation by multiple signatures from managers or company executives.
Cobo's DFaaS infrastructure underpins its multi-signature cryptocurrency platform and cryptocurrency storage services for retail and institutional investors, respectively. Cobo serves more than 300 institutional clients, including the likes of Deribit, F2Pool, BitMart and Pioneex. This service goes through the company's services, such as Cobo Custom and DFaaS, with a total transaction volume of $20 billion. Customers of the company, which are retail investors, use the wallet Cobo Wallet.[1]
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