With DeFi still in focus, Cobo raises $40M in Series B funding

With DeFi still in focus, Cobo raises $40M in Series B funding

ambcrypto.com
2 min read
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Cobo, a popular crypto-asset management platform, has raised $40 million in Series B funding. According to reports, the proceeds will primarily be used for the development of DeFi as a service (DFaaS). They will also be used to strengthen the existing digital infrastructure around wallets, trading, and staking. The aforementioned news comes three years after […]
Cobo, a popular crypto-asset management platform, has raised $40 million in Series B funding. According to reports, the proceeds will primarily be used for the development of DeFi as a service (DFaaS). They will also be used to strengthen the existing digital infrastructure around wallets, trading, and staking.

The aforementioned news comes three years after a $13 million Series A round in October 2018, one that was aimed at expanding operations internationally. The privately-held company is incorporated in Beijing and has offices in Singapore, Hong Kong, and Seattle.

Hence, the latest round of funding will also help the company procure domestic regulatory licenses for anti-money laundering (AML) and counter the financing of terrorism (CFT) compliance.

The previous round was led by China-based DHVC and Wu Capital, which extended to DST Global, A&T Capital, and IMO Ventures this year.

In a statement, CEO and Co-founder Discus Fish…
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