Singapore, 4 October 2022 - DataPost and Cobo are entering into an agreement to establish a joint venture in Singapore on 30 September 2022.
Cobo, Asia Pacific’s largest digital asset custodian and blockchain technology provider, is establishing a joint venture with DataPost, the region’s market leader in handling secured data services. The Joint Venture, named KSB Cobo (Key Safe Bank Cobo), will provide digital asset custodial services and technology solutions with a focus to serve registered and/or licensed financial institutions and is set to be ready by 31st October 2022.
“Datapost has been in the trusted services business for more than 2 decades. We hope to provide a new range of services for our corporate clients. With KSB Cobo, we hope to provide both centralized and decentralized custodian services for Corporates. We are not in the space of speculating the values of cryptocurrencies or digital art pieces. We are investing into providing such services because we predict the needs to safeguard this class of assets will continue to grow exponentially” said Dr. Marvin Tan, Group Executive Director and Co-founder of ADERA Global, the parent company of DataPost.
“Digital Assets are not just starting to become part of an individual’s class of assets but also showing up on the Balance Sheets of Corporates. The importance to safekeep this class of assets is the same as protecting a physical asset such as laptops or cash in the physical world. Such services allow corporates to have proper processes to manage their assets in the metaverse. Watch this space!” he added.
DataPost, a majority-owned subsidiary of trusted services provider, ADERA Global Pte Ltd, serves local financial institutions through customer data storage and processing. Through this joint venture, KSB Cobo will be able to serve the emerging demands and requirements of financial institutions to offer digital assets as alternative investments for their clients
“When financial institutions want to offer digital assets as alternative investments for their clients, they need the capabilities to securely store and safe-keep the digital assets for their clients. This is what Cobo aims to supplement with its blockchain and custodial technology solutions”, said Dr Jiang Changhao, CTO and Co-Founder of Cobo.
KSB Cobo is designated to finalise its establishment by 31 October 2022, providing digital asset technologies and custodial solutions with a focus on serving registered and licensed financial institutions in Singapore.
Established in 1994, DataPost is the region’s market leader in handling secured data services, and the largest entity in this industry in Singapore, with the capacity and capability to process data into various digital and physical outputs. Their secure operational environments are audited regularly by the Banks and external auditors adhering strictly to local regulatory body outsourcing guidelines. Datapost’s experience and proficiency in providing over 40 million impressions per month and an established customer base, endorses DataPost to be the trusted industry leader as a Secured Data Handling Business Service provider.
Cobo is Asia Pacific’s largest digital asset custodian and blockchain technology provider, based in Singapore. Trusted by over 500 institutions and HNWIs to grow and protect their crypto assets, the company focuses on building scalable infrastructure and powering the Web 3.0 revolution around the world. As a strong blockchain and DeFi infrastructure builder, Cobo provides SaaS (Software-as-a-Service) products such as WaaS (Wallet-as-a-Service), DaaS (DeFi-as-a-service), NaaS (NFT-as-a-Service), and Argus (The Smart Contract Based Custody).