Cryptocurrency Wallet Boasts $13 Mln Raised in Series A Funding

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Wed, 10/17/2018 - 17:18
Alex Dovbnya
Beijing-based developer of Blockchain-oriented products, has raked in a staggering $13 mln in a Series A funding round that was spearheaded by a major VC fund DHVC
Cover image via U.Today

According to Forbes, Cobo, a Beijing-based developer of Blockchain-oriented products, has raked in a staggering $13 mln in a Series A funding round that was spearheaded by a major VC fund DHVC (Digital Horizon Capital). A cryptocurrency wallet with PoS mining rewards is Cobo’s main product that lured in the investors.

The fledgling startup, after successfully completing its first funding round, is now aiming for global expansion. On top of that, Cobo is going to use the raised money to sponsor its new product – Cobo Vault, the company’s foray into the hardware wallets market that is currently dominated by Trezor and Ledger Nano S.

As of now, the Cobo wallet has over half a million users with 30 available digital assets.

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.

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