BitMart Will Use SuperLoop to Further Improve Security of User Assets

On February 9, BitMart, a platform for selling digital assets, announced a cooperation with Cobo, a platform for custodying digital assets. Cobo will be linked to SuperLoop, a network payment grid, and will provide off-site custodian.

By utilizing cutting-edge MPC-based co-management custodianship, this agreement will enable BitMart's institutional clients to trade on its exchange while maintaining total control over their assets.

Victor Wei, Vice President of Institutional Clients at BitMart, stated:

“The security of clients’ assets is always our top priority 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.”

The first off-site custody and settlement system for an exchange, Cobo SuperLoop realizes the separation of trading, clearing, settlement, and control. SuperLoop reduces counterparty risk and ensures the security of client assets by enabling customers to trade directly on the exchange while protecting their assets using Cobo or MPC-based coordination.

Customers will be able to leverage TSS threshold signature algorithm (Threshold Signature Scheme) and advanced multi-party computing (MPC) technology after gaining access to BitMart's institutions to assure asset security.

Cobo and the client maintain their separate critical private fragments in this design. Without revealing any of their individual private key fragments or the entire private key, the two parties can finalize transaction signatures.

The top trading platform for digital assets worldwide is BitMart. It presently offers more than 1,000 trading pairs with affordable trading costs and is one of the top cryptocurrency exchanges on CoinGecko, with millions of customers worldwide.

Leading global provider of solutions for the custody of digital assets is Cobo. Cobo, a 2017 startup with its headquarters in Singapore, is one of the biggest global digital asset custodians, holding assets worth billions of dollars in trust for over 500 institutional clients in Asia, Europe, the Middle East, North and South America.