Bitcoin
$63,052.61+0.45%
Ethereum
$3,079.86-0.96%
Binance Coin
$581.73-0.71%
Solana
$143.63-0.52%
XRP
$0.52694629-0.51%
Dogecoin
$0.15748589+5.00%
Toncoin
$5.62-1.52%
Cardano
$0.45339135-2.93%
Shiba Inu
$0.00002446-1.05%
Avalanche
$37.64+5.87%
Tron
$0.12125997-1.21%
Wrapped Bitcoin
$63,151.82+0.58%
PlayIconNav
Crypto Prices CoinDesk 20 Index CoinDesk 20 Index
Countdown to ConsensusThe largest and longest running event that covers all sides of crypto and Web3
24
DAYS
08
HR
23
MIN
04
SEC
Finance

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

The firm wants to expand its so-called “DeFi as a Service (DaaS)” product.

By Eliza Gkritsi
AccessTimeIconSep 23, 2021 at 1:44 a.m. UTC
Updated May 9, 2023 at 3:25 a.m. UTC
CoinDesk placeholder image
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

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

  • The funds will 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 solution for institutions that want to access decentralized finance investment tools.
  • Cobo has served more than 300 institutions and has enabled $20 billion in transactions through its platform, the company said in a press release on Thursday.
  • DST Global is one of the world’s biggest venture capital firms. A&T Capital, which is a new VC based in Asia, is backed by a “world-leading fintech giant.” IMO Ventures is a China-focused VC that is active in blockchain and fintech.
  • Cobo, which recently moved from Beijing to Singapore, raised $13 million in a Series A round in 2018.
VolumeMuteUnmute

DeFi Market Rebounds to $50B as Speculators Hunt for Yield

  • How Spool Is Aiming to Help Institutions Enter DeFi
    11:05
    How Spool Is Aiming to Help Institutions Enter DeFi
  • Ethereum Average Gas Fees Touched Highest Level in Six Months: Kaiko
    01:07
    Ethereum Average Gas Fees Touched Highest Level in Six Months: Kaiko
  • How a New Tax Proposal From the IRS Could Impact DeFi
    00:46
    How a New Tax Proposal From the IRS Could Impact DeFi
  • Fireblocks CEO on Non-Custodial Wallet Service Demand in Wake of FTX Collapse
    07:47
    Fireblocks CEO on Non-Custodial Wallet Service Demand in Wake of FTX Collapse

    • Read more: F2Pool Founder’s Crypto Wallet Startup Raises $13 Million

    UPDATE (SEPT 27, 8:03 UTC) Company changes funding round leader to a partner at DST Global. Originally said led by DST Global.


    Disclosure

    Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

    Eliza Gkritsi
    Eliza Gkritsi

    Eliza Gkritsi is a CoinDesk contributor focused on the intersection of crypto and AI.

    Follow @egreechee on Twitter

    Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.