Cobo, a Singapore-based digital asset custody and infrastructure solutions firm, has announced the signing of two strategic Memorandums of Understanding (MoUs) with global cryptocurrency insurance-backed technology firm CoinCover and crypto-as-a-service provider Shift Markets.

These collaborations mark a major milestone in advancing security, scalability, and innovation for cryptocurrency exchanges and financial institutions worldwide, the trio said in a statement on Monday.

It is noted that as the digital asset landscape faces escalating threats, with over $2.2 billion lost to crypto hacks in 2024—and the recent $1.5 billion Bybit hack, one of the largest in history—the need for robust security solutions has never been…