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Crypto Exchange, BIT, Announces Collaboration with Custody Technology Leader, Cobo, Fully Embracing the BRC20 Ecosystem

Crypto Exchange, BIT, Announces Collaboration with Custody Technology Leader, Cobo, Fully Embracing the BRC20 Ecosystem

BIT, a leading crypto exchange, has partnered with Cobo, a prominent digital asset custody technology provider to launch a BRC20 token spot trading zone, allowing users to showcase their positions and allocations enabled by Cobo's wallet-as-a-service solution. As the world's first omni-custody platform, Cobo is pioneering institutional-grade custody solutions that support the new BRC20 token standard.

Through this collaboration, users can easily deposit, withdraw, and trade BRC20 tokens on BIT, facilitating seamless participation in the BRC20 token ecosystem. Furthermore, users can also benefit from savings on gas fees when trading, significantly lowering entry barriers for more user to participate.

Cobo Co-founder and CTO, Dr. Changhao Jiang, stated, "We are pleased to collaborate with BIT to maintain a fair and transparent market for token trading. Cobo's wallet-as-a-service solution aims to simplify the development process for institutions through standardized wallet APIs and SDKs, saving valuable time and costs. Cobo's proven security architecture, sophisticated risk control mechanisms, and professional monitoring capabilities provide BIT users with a secure and worry-free trading environment."

BIT Co-founder and COO, LAN, expressed, "We are very excited and pleased to collaborate closely with Cobo, providing a secure, transparent, and open market for token trading. Through user-friendly wallet services and widespread support for the BRC20 token market, we can quickly bolster this new and innovative ecosystem. BIT is committed to building a trading network similar to Bitcoin Layer2, allowing everyone to easily and effortlessly engage in token trading and enjoy a better trading experience.

About Cobo

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.

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About BIT

BIT is a full-featured cryptocurrency exchange that is designed for use by professionals, with advanced risk management and fund efficiency supported by Portfolio Margin and Unified Margin.

BIT was launched in August 2020 as an affiliate to Matrixport, a prominent crypto financial service company. BIT is always striving to widen its selection of tokens, enhance its trading tools, and inspire the creation of innovative financial products.

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