DeFi
Cobo and Coincover join forces with XLink to drive Bitcoin’s evolution to DeFi The Block
Cobo, a provider of digital asset custody solutions, has formed a strategic partnership with XLink, a pioneering intent-based omnichain Bitcoin liquidity network and a subsidiary of ALEX, the leading DeFi platform on Bitcoin.
Alongside Coincover, a UK-based digital asset protection company, this dynamic alliance is poised to transform Bitcoin’s integration into DeFi by leveraging cutting-edge multi-party compute custody technology ( MPC) from Cobo with innovative liquidity solutions from XLink and robust blockchain protection solutions from Coincover.
XLink enhances Bitcoin functionality across multiple blockchain networks, facilitating seamless liquidity and smart contract interactions. This important partnership integrates cutting-edge security technologies to protect digital assets against hacking, theft and human error, thereby addressing critical security challenges in the DeFi space.
Cobo’s proven MPC custody technology is designed to eliminate vulnerabilities, protecting digital assets from external hackers and internal breaches. The MPC Co-Managed Custody solution uses a sophisticated Threshold Signature System (TSS), where private key shares are independently generated in secure environments, encrypted and distributed among multiple parties. These parties sign transactions collaboratively while maintaining the confidentiality of their individual key actions, eliminating any single point of failure.
By integrating Cobo’s advanced MPC technology, XLink ensures unparalleled security management of digital assets on its platform, preventing unauthorized access and building trust. Coincover’s disaster recovery services provide an essential safety net, ensuring operational continuity in the event of unexpected disruptions. Together, these technologies reinforce XLink’s commitment to providing secure and reliable DeFi services.
Dr. Changhao Jiang, CTO and co-founder of Cobo, said: “We are excited to partner with XLink and integrate our MPC technology into their DeFi platform. This collaboration with XLink and Coincover not only strengthens our position in the Bitcoin Layer 2 landscape, but also sets new benchmarks for security practices within the blockchain industry.
Dr. Chan Ahn, CTO and co-founder of XLink, said: “By joining forces with Cobo and Coincover, an exceptional user experience. With advanced security technologies and protections in place, we are excited to unlock the full potential of Bitcoin and usher in a new era of DeFi. »
Alex Saleh, Head of Partnerships at Coincover, said: “Our mission at Coincover is to create a secure environment for crypto and blockchain users. We are excited to collaborate with XLink alongside our long-time partner, Cobo, to bring our cutting-edge disaster recovery technologies to the Bitcoin Layer 2 and DeFi landscape, ensuring operational continuity at all times and building user trust .
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