Cobo Wallet Closed $10 Million Pre-A Funding With Linear VC And Frees Fund
On April 18th, 8BTC learned from “Cobo Wallet” that the project has completed a 10 million USD Pre-A round funding. This round of financing was led by Linear Venture and Frees Fund. Shixing Mao, co-founder of Cobo wallet, said that the funds would be used for technology development, community building and team development.
Cobo Wallet was jointly founded by Shixing Mao and Jiang Changhao in late 2017. Mao’s nickname is “Angel Fish” when he founded f2pool, the world’s biggest crypto-mining pool back in 2013. At present, F2pool ranks top 5 in Bitcoin mining, #1 in Ethereum and Litecoin and #2 in ZEC in the world. After the pool lost a total of more than 8,000 ETH, Mao decided to develop a blockchain wallet. With Jiang Changhao, former senior scientist of Facebook and founder Lbank, Cobo wallet was born.
Cobo Wallet aims to build a functional ecosystem through safe storage of assets, asset returns, DApp and asset service solutions.
In terms of secure storage, Cobo Wallet achieves high-performance secure storage by adopting HSM encryption and a multi-signature cold wallet. HSM encryption machines are widely used in commercial banks, such as credit card systems, bank card transfer systems and online securities trading. At the same time, the multi-signature cold wallets can be used to store assets that is entrusted by users. The cold wallet will physically isolate various network risks directly to ensure the safety of user assets.
At present, Cobo Wallet has passed the security audit of Cure53. Cure53 is a world-class security company and has provided security audits for various open source projects such as NTP, CURL, and MIST.
Asset returns is a distinct difference between Cobo Wallet and other wallets on the market. It can be regarded as the “Yu’er Bao” of digital assets. Through the three major functions of smart voting system, DPOS mining pool and POS mining, assets can generate positive returns.
DApp’s ecological applications and future asset service solutions are currently under development.