Cobo, a Singapore-based crypto asset management platform, raised a $40 million Series B to accelerate the development of decentralized finance as a service (DFaaS).
The round was co-led by DST Global, A&T Capital and IMO Ventures.
The company will use its proceeds for the development of DeFi as a service (DFaaS) infrastructure and its existing custody services such as wallet as a service (WaaS), trading and staking as a service (StaaS). The funding will also be used to apply for regulatory licenses to ensure strict compliance to the relevant anti-money laundering (AML) and counter the financing of terrorism (CFT) requirements.
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