BitMart Will Access SuperLoop To Further Enhance User Asset Security

Key Points:

• BitMart will access Cobo SuperLoop to enhance customer asset safety before the official launch.
• This partnership will allow BitMart’s institutional clients to trade on its exchange while maintaining complete control of their funds.

On February 9, digital asset trading platform BitMart announced that it had reached a partnership with digital asset custody platform Cobo, which will be connected to SuperLoop, a network payment grid, and offsite custody will be issued by Cobo.

This partnership will allow BitMart’s institutional clients to trade on its exchange while maintaining complete control of their funds using advanced MPC-based co-management custodianship.

“The security of clients’ assets is always our top priority at BitMart,” said Victor Wei, Vice-President of Institutional Clients at BitMart. “By joining the Cobo SuperLoop network, we believe it will further enhance the security of our client’s funds through third-party custodians and raise the industry standard to a higher level,” he added.

Cobo SuperLoop is the world’s first exchange’s offsite custody and settlement system, which realizes the separation of trading, clearing, settlement, and control. SuperLoop allows customers to trade directly on the exchange while keeping their assets safe thanks to Cobo or MPC-based coordination, reducing counterparty risk and ensuring the safety of client assets.

After accessing BitMart’s institutional, customers will be allowed to use advanced multi-party computing (MPC) technology and TSS threshold signature algorithm (Threshold Signature Scheme) to ensure asset security.

In this scheme, Cobo and the client keep their private vital fragments independent. The two parties can complete transaction signatures without sharing their respective private key fragments or the complete private key.

BitMart is the leading global digital asset trading platform. With millions of users worldwide and ranked among the top crypto exchanges on CoinGecko, it currently offers over 1,000 trading pairs with competitive trading fees.

Cobo is a leading global provider of digital asset custody solutions. Founded in 2017 and headquartered in Singapore, Cobo is one of the largest global digital asset custodians, with over 500 institutional clients across Asia, Europe, Middle East , North and South America trust, with billions of dollars in assets in custody.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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