Wednesday, 28 September 2022 - Asia’s largest digital asset custodian and blockchain technology provider, Cobo, is partnering with MetaMask Institutional, an institution-compliant version of the world’s most trusted DeFi wallet, MetaMask, to form a custody solution for NFTs - Cobo NaaS (NFT-as-a-Service).
A New Synergy
This partnership aims to allow users and institutions to have a one-stop platform to manage all their NFT services. This move comes in line with Cobo’s goal to help users and institutions safeguard their NFT assets and simultaneously perform interactions on various platforms by using MetaMask Institutional’s gateway and its ability to interact with over 17,000 DeFi protocols and applications.
“NaaS is a platform that allows users to securely store their NFTs without compromising usability and flexibility. With role-based access controls, institutions can easily manage their NFTs at a glance and define rules that govern the trading limits of each wallet. With this new partnership, users can easily connect via Metamask Institutional with one-click integration to interact within the Ethereum DeFi and Web3 ecosystem”, said Dr Jiang Changhao, Co-Founder and CTO of Cobo.
Under this partnership, users and institutions using Cobo NaaS will be able to access Web3 and DeFi through the MetaMask Institutional Wallet while Cobo provides custodial security to safely secure their NFT assets where they will be able to view detailed metrics for NFTs held across different wallets. On the interface, users will be able to buy, trade and sell NFTs, participate in NFT minting, shelving, trading, receiving airdrops, asset transfers, pledges, and other NFT management services. Currently, Cobo NaaS supports ERC 721 and ERC 1155 token standards, with other standards to be supported in the future.
“NFTs, from first principles, can be a paradigm shift in how value is created, stored and transferred. No wonder we are seeing an accelerating groundswell of organisational interest and adoption of this digital asset. Accordingly, institutions need access and safe and secured custody in-line with their strict requirements. We are excited to partner with Cobo to provide the best of both worlds of institutions. The unrivalled access MetaMask Institutional affords, along with the enterprise custody that Cobo offers.” Johann Bornman, Group Product Lead, Consensys.
Aside from the NFT services it provides, Cobo NaaS will be added to the list of custody providers on MetaMask Institutional, making it the first of its kind to provide professional team collaboration tools with role-based access control and parameter-level risk management, backed by the technology of Cobo’s custody solution.
Cobo is Asia-Pacific’s largest digital asset custodian and blockchain technology provider, based in Singapore. Trusted by over 500 institutions and HNWIs to grow and protect their crypto assets, the company focuses on building scalable infrastructure and powering the Web 3.0 revolution around the world. Its proprietary DeFi asset management services crossed the 1.5B AuM mark and achieved a unique risk-to-reward profile that rivals top hedge funds - without over-exposure to headwinds. As a strong blockchain and DeFi infrastructure builder, Cobo provides SaaS (Software-as-a-Service) products such as WaaS (Wallet-as-a-Service), NaaS (NFT-as-a-Service), and Argus (The smart contract based digital asset custody). To explore Cobo’s products and solutions, visit www.cobo.com
ConsenSys is a leading Ethereum and decentralised protocols software company. Consensys enable developers, enterprises, and people worldwide to build next-generation applications, launch modern financial infrastructure, and access the decentralised web. Consensys’s product suite, composed of MetaMask Institutional, Infura, Quorum, Codefi, MetaMask, Truffle, Diligence and our NFT platform, serves millions of users, supports billions of blockchain-based queries for our clients, and has handled billions of dollars in digital assets.