Singapore - January 31, 2024 - Cobo, a leading provider of digital asset custody solutions in the global blockchain and cryptocurrency space, has announced its chain support for Bahamut chain, an innovative PoSA-powered blockchain platform that is set to redefine the industry. Cobo is set to enhance the Bahamut ecosystem by offering essential secure storage as well as deposit and withdrawal services for the native coin, FTN, thereby expanding its already impressive list of supported tokens and chains.
As a market leader, Cobo provides the industry’s most comprehensive token support of more than 80+ chains, including BTC, ETH, USDT, BCH, DASH, LTC, ETC, TRON, EOS, and 2,500+ tokens. Cobo’s unmatched expertise will serve Bahamut to cater to the diverse needs of its growing network and broaden the limits of the Web3 community on the network.
“We are glad to be partnering with Cobo, integrating Cobo’s finest custodial solutions into Bahamut’s fast-growing blockchain platform. It’s always Bahamut’s priority to ensure flexibility for our users’ financial activities,” mentioned Mr. Pavel Aramyan, Blockchain Program Lead at Bahamut.
The Bahamut blockchain is a public, EVM-based, layer 1 blockchain solution launched in 2023. Its innovation lies in its unique Proof of Stake and Activity (PoSA) consensus algorithm which combines traditional Proof of Stake (PoS) with an activity-based system, where validators receive rewards for their stake and the activity generated by their smart contracts. In other words, using Bahamut for decentralized applications (dApps) offers significantly lower transaction fees than other EVM-based blockchains. Moreover, the Bahamut blockchain predominantly supports and utilizes Solidity for smart contract development. This choice aligns with the most common practices in the industry and ensures robustness and security in contract creation and execution.
For more information, please visit https://bahamut.io/.
Cobo is a globally trusted leader in digital asset custody solutions. As the world’s first omni-custody platform, Cobo offers the complete spectrum of solutions from custodial wallets to non-custodial wallets including MPC and smart contract wallets, as well as Wallet-as-a-Service, a DeFi management platform (Argus), and an off-exchange settlement network (SuperLoop). Trusted by over 500 institutions with billions in assets under custody, Cobo inspires confidence in digital asset ownership by enabling safe and efficient management of digital assets and interactions with Web 3.0. Cobo is ISO27001 certified, SOC2 Type 1 and Type 2-compliance-certified, and licensed in 4 jurisdictions.
For more information, please visit www.cobo.com.