SINGAPORE, May 19, 2021 /PRNewswire/ -- Cobo, one of the largest crypto asset management platforms based in China, is working with TZ APAC, a leading Asia-based public blockchain consultancy supporting the Tezos ecosystem, to help expand Cobo's integrated product offering to enterprises.
Cobo previously launched support for Tezos – an open-source Proof-Of-Stake (PoS) blockchain – in January 2019, through its flagship software wallet, Cobo Wallet. Users of Cobo Wallet can send, receive and store tez in the PoS blockchain in a simple and secure manner.
Cobo Custody, launched in 2018, is Asia's leading end-to-end custodian provider for institutions. It adopts an industry-leading hot, warm & cold 3-tier storage architecture to guarantee the security of their institutional clients' assets. It also enables corporate clients to seamlessly access over 50 coins and 1000 tokens with preferential fees on tier one major exchanges.
The Tezos blockchain uses a consensus algorithm based on a Liquid Proof-of-Stake (LPoS) mechanism, with block validators called "bakers'', to secure the Tezos blockchain. The environmentally-friendly blockchain platform enables institutions to innovate and experiment with different technology strategies. Its unique design has attracted corporations, such as Ubisoft and EDF Group's Exaion, to participate on the network as corporate bakers.
In this expanded collaboration over 160 members of Cobo Custody's international corporate client base will be able to store tez securely and integrate tez on their platform with just one click. The integration seeks to meet the growing institutional demand for access to the Tezos ecosystem in China.
"TZ APAC is dedicated and focused on cultivating the Tezos ecosystem in Asia, through collaborative approaches with partners such as Cobo. We are very pleased to have worked with Cobo, one of the largest custodians in Asia, in bringing increased accessibility of Tezos to the corporate market," stated David Shin, Head of Asia, TZ APAC.
"We are glad to cooperate with TZ APAC, expanding the Tezos ecosystem to all our clients, so that they can have access to Tezos easily and for free. Currently, our clients are all over the world—from exchanges, asset management teams, mining companies, token funds, family offices, and so on. In addition to China, we also have clients from Australia, Singapore, Europe, and other countries, and we are continuing to expand to overseas markets," stated Youai Cui, product owner of Cobo Custody.
Cobo is a leading producer of software and hardware blockchain products, it aims to be a one-stop-shop for everything crypto. As a company, it emphasizes long-term security, reliability, and convenience. Cobo's key products and services reflect that vision. Altogether, Cobo offers a one-stop crypto asset financial service platform (Cobo Wallet), tailored custodial solutions for institutional investors (Cobo Custody), and an offline hardware crypto wallet (Cobo Vault). For more info about Cobo, visit https://cobo.com/.
Tezos is smart money, redefining what it means to hold and exchange value in a digitally connected world. A self-upgradable blockchain with a proven track record, Tezos seamlessly adopts tomorrow's innovations without network disruptions today. To learn more, visit Tezos.com
About TZ APAC
TZ APAC is a leading Asia-based public blockchain consultancy supporting the Tezos ecosystem. It designs value-added blockchain transformation strategies for enterprises and creators with a bottom-up approach, working closely with blockchain experts and other stakeholders in the Tezos ecosystem. TZ APAC is supported by the Tezos Foundation and headquartered in Singapore.
SOURCE TZ APAC