Cobo Integrates TON Blockchain for Enhanced Digital Asset Security

Cobo, a leading digital asset custody provider, has announced the integration of The Open Network (TON) blockchain into its services. This integration will enhance security and flexibility for institutional clients by providing comprehensive custody solutions, including custodial wallets and multiparty computation wallet technology. The partnership will also integrate TON's native Toncoin (TON) token, Notcoin (NOT), and stablecoins like Tether (USDT). This move follows significant Web3 support for TON, which powers Telegram's new advertising platform. The integration aims to improve the security and flexibility of digital asset management for institutional clients, expanding Cobo's service offerings. However, TON's multichain architecture and sharding technology may present technical challenges. Cobo's platform has a history of regulatory compliance, making this partnership strategic following Toncoin's approval by the Kazakhstan Financial Services and Regulatory Committee (AFSA). This approval places Toncoin on a list of 107 cryptocurrencies approved by the Kazakh government. Despite the success of the TON ecosystem, concerns remain regarding phishing attacks on the blockchain, as highlighted by SlowMist founder Yu Xian. Xian argues that Telegram's ecosystem is too free, with phishing links spread through message groups, airdrops, and other deceptive methods. Users with anonymous numbers face higher risks, as their accounts can be lost if phished by bad actors.