727 FinancePANews October 17 news: According to official information, Cobo plans to announce a brand upgrade during the Singapore FinTech Festival (SFF) to be held in mid-November, and to showcase the latest product capabilities of its institutional wallet, including upgraded products for enterprise and agent payment scenarios.
Founded in 2017, Cobo was initially known in the market for its wallet products for individual users, and subsequently shifted its business focus to institutions and enterprises. According to company disclosures, Cobo currently serves more than 680 institutional clients, covering nearly 50 countries and regions. This SFF showcase will present its latest progress in institutional wallets, the payments sector, and agent payments.
Regarding the recently announced service discontinuation arrangement for the personal edition Cobo Wallet App, Cobo added that the App had already stopped new user registration as early as 2021, and thereafter continued to retain services for existing users, leaving sufficient time for customers to withdraw funds. This announcement ends the personal edition App service, marking the official conclusion of Cobo's personal wallet business.
Cobo stated that this brand and product upgrade is part of its continued deepening of its institutional business. Building on its existing wallet and custody services, the company will further expand payment scenarios to support the digital asset management and business needs of institutions, enterprises, and agents.