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Providing digital asset custody and wallet, Cobo has declared its support for The Open Network (TON), therefore adding its complete custody solutions to the TON blockchain.
Integration Details and Strategic Benefits
This integration covers TON’s native Toncoin (TON), Notcoin (NOT), and stablecoins like Tether along with custodial wallets and multiparty computation wallet technologies. The cooperation seeks to increase Cobo’s service offers and improve the security and adaptability of digital asset management for institutional customers.
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The integration tracks a notable flood of Web3 support for the TON blockchain, which drives Telegram’s new advertising platform. Despite technical difficulties these features may create, Cobo’s decision to assist TON’s ecosystem fits its approach to increase token acceptance and exploit TON’s sophisticated multichain architecture and sharding technologies.
The platform of Cobo is well-known for institutional customer services and regulatory compliance. Particularly since Toncoin has permission from the Kazakhstan Financial Services and Regulatory Committee (AFSA), the relationship is strategically important. Toncoin ranks among 107 cryptocurrencies approved by Kazakhstan’s government here.
Security Concerns and Ecosystem Challenges
As SlowMist creator Yu Xian points out, phishing attempts on the blockchain have increased even with the success and rising acceptance of the TON ecosystem. Xian said on June 24 that the open character of the Telegram ecosystem helps phishing links to proliferate via messaging groups, airdrops, and other dishonest techniques. Users with anonymous numbers, which are not connected to SIM cards, he pointed out have more phishing risks and possible account losses should targeted criminal actors on the network target them.
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