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By Cobo Custody Integration for Institution
Enabling institutional-grade custody, cross-border payment and PayFi solutions for Stellar Network through Cobo's Multi-Party Computation (MPC) wallet technology and Bridge app, serving immediate demand from institutional clients.
Cobo is a trusted leader in digital asset custody and wallet infrastructure solutions. Founded in 2017, Cobo safeguards billions of dollars in assets for 500+ organizations worldwide with a zero-incident security track record. Our unified platform integrates all four wallet technologies - Custodial, MPC, Smart Contract, and Exchange Wallets - empowering institutions to securely scale their blockchain operations.
Cobo will integrate Stellar Network into two critical infrastructure components serving institutional clients:
1. MPC Wallet Solution: Implementing Stellar Network support in our enterprise-grade MPC wallet system, enabling secure shared custody of XLM and Stellar-based assets with institutional-level controls. This includes support for the ED25519 signature scheme, comprehensive transaction policy management, and governance structures required by institutional clients.
2. Bridge Application: Enhancing our Bridge service to support cross-chain transfers between Stellar and other major networks (currently supporting BTC↔️WBTC, TRON_USDT↔️BSC_USDT↔️ETH_USDT), enabling seamless liquidity management for payment providers and institutional clients.
These services will directly address the $1.5M+ in asset demand from our existing institutional client base while enabling cross-border payment infrastructure for payment companies, exchanges, and financial institutions. The institutional MPC capability for Stellar will be the first of its kind, delivering enterprise-grade security features including threshold signing (2-of-3), comprehensive risk policies, and regulatory compliance mechanisms.
Maybe in the future, but not in this submission
$150.0K
We'll measure success through these key metrics:
1. Assets Under Custody: $1.5M+ in Stellar assets secured in MPC wallets by end of first quarter post-launch.
2. Client Adoption: 10+ institutional clients utilizing our Stellar MPC solution, including at least 3 payment providers, 2 exchanges, and 3 investment firms.
5. API Integration: 5+ third-party applications integrating with our Stellar API endpoints.
6. Security Performance: Maintaining zero security incidents while scaling Stellar custody operations.
7. Compliance Standard: Successfully handling regulatory requirements across jurisdictions for institutional clients.
The project will be considered fully successful when we've achieved the assets under custody target, onboarded the target number of institutional clients, and established Stellar as a core component of our cross-border payment infrastructure.
Our go-to-market strategy leverages Cobo's existing client base and industry position:
1. Immediate Client Migration: We'll start by onboarding the $1.5M+ in waiting assets from current clients who have expressed interest in Stellar support.
2. Payment Provider Integration: We'll work closely with our payment provider clients to implement Stellar as a settlement layer for cross-border transactions, leveraging Stellar's speed and cost advantages.
3. Exchange Support: We'll partner with cryptocurrency exchanges to offer secure custody for their Stellar assets with features like automated sweeping and bulk withdrawals.
4. Financial Institution Outreach: We'll engage regulated financial institutions seeking compliant infrastructure for Stellar-based assets and stablecoins.
5. Developer Ecosystem: We'll share related documentation, SDKs, and implementation guides to encourage broader adoption by both Cobo and Stellar Network developer community similar to Fireblocks (https://developers.stellar.org/platforms/anchor-platform/admin-guide/custody-services/fireblocks)
6. Partnership Expansion: We'll collaborate with existing ecosystem partners including payment processors, OTC providers, and financial service companies to expand Stellar adoption.
Our target is to secure $1.5M in assets under custody within the first quarter of mainnet launch.
1. Existing XLM Integration: Cobo has already successfully integrated XLM in our HSM-based custodial wallet solution, demonstrating technical proficiency with Stellar.
2. Client Demand: We have $1.5M+ in verified client demand for XLM in our MPC wallet, and payment companies or PayFi projects looking into Stellar Network cross-border payment solution.
3. Institutional Client Base: Cobo serves 500+ institutions safeguarding billions in digital assets with zero security incidents since 2017, including major exchanges, asset managers, and payment providers.
4. Cross-Border Payment Volume: Our payment infrastructure currently processes millions in monthly transaction volume, with clients like Dogpay handling $2M+/month in cross-border transactions.
5. Technical Track Record: Successfully integrated 80+ blockchain networks including complex non-EVM chains, demonstrating proven capability to implement Stellar's unique architecture.
6. Security Certifications: Our platform maintains SOC 2 Type II and ISO 27001 compliance, meeting the rigorous security requirements of institutional clients.
Deliverables:
Measure: Successful sending and receiving of XLM in development environment
Measure: Updated reference documentation
Measure: Functioning permission controls
“Requested budget: $75K
Deliverables:
Measure: Successful operation on Stellar testnet
Measure: Completion of security checklist
Measure: Proof-of-concept transfers on testnet
“Requested budget: $30K
Deliverables:
Measure: Functioning XLM support for client accounts
Measure: Ability to transfer stablecoins between Stellar and other networks
Measure: Client reference materials for Stellar features
“Requested budget: $45K
Cobo was founded by industry veterans with deep expertise in blockchain technology and security:
Discus Fish (Shixing Mao) - CEO and Co-founder
An early cryptocurrency pioneer since 2011, Discus Fish is a highly respected thought leader in the crypto community. Before founding Cobo, he co-founded F2Pool, one of the world's largest mining pools, where he played a pivotal role in advancing the mining industry and supporting blockchain infrastructure. He also started the first Chinese Bitcoin and Litecoin forums and co-founded Yibite, a premier Bitcoin portal.
Dr. Changhao Jiang - CTO and Co-founder
A Silicon Valley veteran and successful serial entrepreneur, Dr. Jiang completed his PhD in Computer Science from the University of Illinois Urbana-Champaign and was part of the engineering teams at Google and Facebook during their fastest-growing years. In 2013, Dr. Jiang founded Bihang, China's first Bitcoin wallet. At Cobo, he continues to push the technological boundaries to simplify digital asset security for organizations.
Integration Team
Our technical team devoted to the Stellar integration includes:
- 5 senior blockchain engineers with experience in cryptographic protocols and different signature schemes
- 3 security specialists with expertise in institutional-grade secure implementation
- 2 integration specialists with extensive API development experience
- 2 quality assurance specialists for rigorous testing
- Product Manager of the Cobo Bridge app in Cobo Portal, who will oversee integration of Stellar into our token bridging infrastructure
This team has successfully integrated 80+ blockchain networks including both non-evm and bitcoin layer 2, demonstrating our capability to handle unique protocol requirements and technical complexity.
Meet Our Broader Team: Our extended team of experts can be viewed on our LinkedIn (https://www.linkedin.com/company/cobo-global/people/), showcasing our deep bench of talent across engineering, security, compliance, and customer success.
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No other submissions.