Cobo is a leading digital asset custody and wallet provider. It has recently announced an integration with The Open Network (TON). This strategic integration aims to bolster the security and flexibility of digital asset management for institutional clients by incorporating Cobo’s comprehensive custody solutions with TON’s blockchain capabilities.
The integration includes custodial wallets and multiparty computation wallet technology, ensuring robust security measures for digital assets. Additionally, Cobo will now support TON’s native tokens, Toncoin (TON) and Notcoin (NOT), along with stablecoins such as Tether. This move is part of a broader trend of increasing Web3 support for the TON blockchain, which underpins Telegram’s new advertising platform.
Despite all the benefits, integrating TON’s multichain architecture and sharding technology presents technical challenges. However, Cobo’s history of regulatory compliance provides confidence in its ability to navigate these complexities. Toncoin’s recent approval by the Kazakhstan Financial Services and Regulatory Committee (AFSA) enhances the partnership’s strategic value, joining a list of 107 government-approved cryptos.
Despite the TON ecosystem’s success, there has been a rise in phishing attacks, as highlighted by SlowMist founder Yu Xian. He noted that the Telegram ecosystem’s openness facilitates the spread of phishing links, posing risks, especially for users with anonymous accounts not linked to SIM cards. Therefore, TON’s integration with Cobo marks a significant step in improving digital asset security while addressing evolving threats in the crypto space.
