One of its very own type crypto wallets, Cobo announced yesterday that it had integrated Binance Chain. As a result, BNB holders will now be able to store their cryptos inside the wallet.
The latest cryptocurrency wallet supporting Binance Coin, Cobo Wallet is originated from China with its HQs in Beijing. Currently, it is available in over 80 countries and plans to expand its network across new states, including the U.S., Indonesia, and Vietnam in particular. To enter new markets, Cobo in a recent Series A gathered around $13 million. This adds financial stability as Cobo aims to build a superior network.
Cobo is the very first digital assets wallet that originates PoS (Proof of Stake) and master node pooling to allow users to store their digital currencies safely, use and invest in cryptocurrencies – that all within a single app. It also gives PoS cloud staking rewards to the holders up to 40% per annum. At the moment, it supports over thirty coins and almost 700 tokens.
Cobo has integrated with #Binance Chain now! Cobo Wallet and Custody is supporting #BNB storage. More collaboration to come soon! @binance @cz_binance
Keep your funds #SAFU with Cobo: https://t.co/cKFuZsr0I6 pic.twitter.com/HiNAdWI1Zd
— Cobo Wallet (@Cobo_Wallet) August 9, 2019
As a crypto startup, the main objective is to provide users with long-term services which are secure, reliable, and convenient. For this, Cobo has developed two different products for different level users, as it offers Cobo mobile wallet and for advanced users, it provides the services of a high-end cold storage wallet named Cobo Vault (hardware wallet). Moreover, for institutional investors, it offers custodial services as well.
The addition of Binance Coin (BNB) to Cobo wallet is an outstanding development for the digital asset. It will allow BNB holders with an excellent option to opt such a wallet which is one of its very own type providing with the master node and PoS Pool skating services. Moreover, the transaction fee is zero, which adds a great advantage for a buyer. It also delivers zero-latency transfers between the Cobo wallet users.
Binance Coin holders will now have a secure platform that will provide them with a multi-factor authentication system which is a modern user-end security system. It also gives proprietary server-end security service that allows dynamically allotted assets to minimize any risk and a cutting-edge cold-hot server separation. The private keys can be stored in the multi-signature cards. So, overall, the crypto wallet has an industrial level security ecosystem.
Cobo will allow the Binance Coin holders to have access to decentralized apps, including CryptoKitties, FOMO3D, and more. Cobo’s close collaboration with the digital assets like ETH, TRX, EOS and other programs means that the wallet allows its users to have access to exclusive functions that include account registration, voting, resource summary, Dapp tools, and procurement, etc.
An overall impact of this development will boost the adoption of the digital asset, BNB. With new things emerging in the cryptosphere, digital assets like Binance Coin have an excellent opportunity to make a large user base and step its authority in the crypto market. One significant advantage for BNB coin is that it is backed by the Binance exchange, which helps in the expansion of the crypto asset.
Binance Coin is the 6th most significant asset in the market, as we write this. BNB in the recent past has shown sublime performance in the market while outshining some top cryptos. Currently, it traded in a slight bearish zone with a price of $29.59. The volume of BNB has risen significantly, and such adoptions will improve its volume more in long-term progress.
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