Custodian Cobo Wallet Closes $40M Series B to Expand Institutional DeFi Offerings

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Singapore-based crypto custodian Cobo Wallet raised $40 million in a Series B spherical led by DST Global, A&T Capital and IMO Ventures.

  • The funds shall be used for Cobo’s so-called “DeFi as a Service (DaaS)” product.
  • Speaking to CoinDesk, COO Lily Zhuo described the product as a one-stop answer for establishments that need to entry decentralized finance funding instruments.
  • Cobo has served greater than 300 establishments and has enabled $20 billion in transactions by way of its platform, the corporate mentioned in a press launch on Thursday.
  • DST Global is likely one of the world’s greatest enterprise capital corporations. A&T Capital, which is a brand new VC primarily based in Asia, is backed by a “world-leading fintech giant.” IMO Ventures is a China-focused VC that’s energetic in blockchain and fintech.
  • Cobo, which not too long ago moved from Beijing to Singapore, raised $13 million in a Series A in 2018.

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