{"id":10732,"date":"2021-09-23T06:12:13","date_gmt":"2021-09-23T05:12:13","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=10732"},"modified":"2021-09-23T06:12:24","modified_gmt":"2021-09-23T05:12:24","slug":"digital-asset-manager-cobo-raises-40m-to-launch-defi-as-a-service","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/digital-asset-manager-cobo-raises-40m-to-launch-defi-as-a-service\/","title":{"rendered":"Digital asset manager Cobo raises $40M to launch DeFi-as-a-service"},"content":{"rendered":"\n
Cobo, a digital asset management platform<\/a>, has raised $40 million in a recent Serie B funding, this is to promote institutional gateways to decentralized finance (DeFi) products in the Asia-Pacific markets.<\/h5>\n\n\n\n
\"Digital<\/figure>\n\n\n\n

Cobo will use the Series B funding to build the first DeFi-as-a-service\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a>, or DaaS, infrastructure, which will allow institutions and their clients to access decentralized finance products in a compliant manner, according to the business.<\/p>\n\n\n\n

The funds will be used to get regulatory licenses and ensure that anti-money laundering requirements are followed across the board.<\/p>\n\n\n\n

DaaS, according to Cobo, provides institutions with more secure access to DeFi smart contracts without requiring them to comprehend market complexity.<\/p>\n\n\n\n

DST Global, A&T Capital, and IMO Ventures led the investment round, which follows Cobo's successful Series A fundraising round, which raised $13 million in October 2018. The Singapore-based firm began operations in 2017 as a blockchain infrastructure provider<\/a>.<\/p>\n\n\n\n

Cobo's founder and CEO, Discus Fish, stated that the new DaaS infrastructure is being constructed at a time when demand for crypto assets is increasing across Asia.<\/p>\n\n\n\n

Despite China's blanket prohibition on cryptocurrency trading and mining, Asia has numerous thriving crypto marketplaces, including Japan, Korea, and, most recently, Vietnam.<\/p>\n\n\n\n

Cryptocurrencies are considered as an investable asset class in more mature Asian economies, but remittance payments are a major driving force behind development in emerging markets like Vietnam, Malaysia, and the Philippines.<\/p>\n\n\n\n

In the Asia-Pacific area, Cobo primarily serves institutional investors<\/a>. Over 300 institutional investors are currently among its customers, underscoring the region's smart-money desire for crypto assets.<\/p>\n\n\n\n

The fear that Chinese property developer Evergrande was on the verge of default has caused extraordinary volatility in crypto and traditional assets in recent days.<\/p>\n\n\n\n

On Wednesday, it was announced that the indebted developer had \u201cresolved\u201d a scheduled payment issue, alleviating some of the selling pressure on risk assets like equities and cryptocurrencies.<\/p>\n","protected":false},"excerpt":{"rendered":"

Cobo, a digital asset management platform, has raised $40 million in a recent Serie B funding, this is to promote institutional gateways to decentralized finance (DeFi) products in the Asia-Pacific markets. Cobo will use the Series B funding to build the first DeFi-as-a-service , or DaaS, infrastructure, which will allow institutions and their clients to […]<\/p>\n","protected":false},"author":12,"featured_media":10733,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[73],"tags":[4589,4592,4590,4588,4591],"class_list":["post-10732","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-defi-news","tag-cobo","tag-daas","tag-defi-as-a-service","tag-digital-asset-manager","tag-serie-b-funding"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2021\/09\/Digital-asset-manager-Cobo-raises-40M-to-launch-DeFi-as-a-service.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/10732","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=10732"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/10732\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/10733"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=10732"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=10732"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=10732"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}