Cobo’s Development Plan in Hong Kong – What it Means for the Future of Digital Assets

04/10/2023 03:37 • Tech Ticker • 126 views

On April 10th, it was reported that at the roundtable forum of “Big Wave Taosha | Web3 Continuous Entrepreneurs Xiangjiang Dialogue”, Cobo co founder and CEO Shen Yu stated in response to Cobo’s development plan in Hong Kong that he is currently applying for more licenses based on the existing regulatory framework; In terms of product technology, Cobo will not only provide centralized custody solutions to meet the needs of compliant funds, but also focus on the development of next-generation private key security, providing decentralized custody based on MPC; In terms of personnel technology, we plan to expand our team in Hong Kong and accumulate more professional and business personnel; In terms of asset management, we will explore some on chain opportunities with partners and explore new sources of revenue. （Foresight）

Shenyu: Cobo is applying for a license based on the existing regulatory framework in Hong Kong and plans to expand its Hong Kong team

Cobo, the world’s leading cryptocurrency services provider, has been making waves in the industry with its innovative product offerings and strategic partnerships. On April 10th, at the roundtable forum of “Big Wave Taosha | Web3 Continuous Entrepreneurs Xiangjiang Dialogue”, Cobo’s co-founder and CEO Shen Yu revealed the company’s latest plans for expansion in Hong Kong. Let’s take a closer look at what this means for the future of digital assets.

The Regulatory Framework

As the cryptocurrency industry continues to evolve, so too must the regulatory landscape. Cobo’s Shen Yu acknowledged this fact and stated that the company is currently applying for more licenses based on the existing regulatory framework. This is an important step for Cobo as it demonstrates their commitment to compliance and shows that they are willing to work within the rules and regulations set forth by government entities.

Centralized Custody Solutions

In addition to focusing on compliance, Cobo will continue to provide centralized custody solutions to meet the needs of compliant funds. This will allow institutional investors and other large entities to hold and manage digital assets with greater ease and security.

The Future of Private Key Security

However, Cobo’s focus is not solely on centralized custody solutions. The company is also dedicated to developing next-generation private key security, providing decentralized custody based on MPC (multi-party computation) technology. This means that users will have greater control over their assets and can store them in a more secure and decentralized manner.

Expanding the Team

A company is only as good as its team, and Cobo recognizes this fact. The company plans to expand its team in Hong Kong and accumulate more professional and business personnel. This will allow Cobo to continue to innovate and provide cutting-edge solutions to its customers.

Exploring On-Chain Opportunities

Finally, Cobo plans to explore some on-chain opportunities with partners and explore new sources of revenue. This is an exciting development as it shows that the company is not content to rest on its laurels and is always looking for new and innovative ways to serve its customers.

Conclusion

Cobo’s plans for expansion in Hong Kong are an important development for the cryptocurrency industry as a whole. By focusing on compliance, private key security, and team building, the company is setting itself up for long-term success. We look forward to seeing what else Cobo has in store for the future.

FAQs

Q1. What is multi-party computation (MPC) technology?
A1. Multi-party computation technology is a cryptographic method that allows multiple parties to perform computations on data without revealing the data to each other.
Q2. What is centralized custody?
A2. Centralized custody is a system where a third-party custodian holds and manages assets on behalf of the owner, typically for a fee.
Q3. What are on-chain opportunities?
A3. On-chain opportunities are blockchain-based opportunities that allow for the creation of new products and services or the enhancement of existing ones using blockchain technology.
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