BitMart will connect to SuperLoop, Cobo's off-exchange custody and clearing network, to further strengthen user asset security

09/02/2023 15:12

BitMart, a digital asset trading platform, announced a partnership with Cobo, a digital asset custody platform, to access SuperLoop, an OTC custody and settlement network to be released by Cobo, so that institutional users of BitMart can use Multi-Party Computing (MPC) while trading on its platform. ) technology's collaborative custody function to achieve complete control over assets. Cobo SuperLoop is an off-exchange custody and settlement system that realizes the separation of trading, clearing, settlement and custody. SuperLoop allows customers to trade directly on the exchange while keeping assets under safe custody by Cobo or MPC-based coordination, reducing counterparty risks and ensuring the safety of customers' assets. This cooperation will enable BitMart's institutional clients to utilize advanced multi-party computation (MPC) technology, threshold signature algorithm TSS (Threshold Signature Scheme) to ensure the security of their assets. In this scheme, Cobo and customers independently hold their own private key shards, and the two parties do not need to share their own private key shards, nor do they need the complete private key to complete the transaction signature.

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BitMart will connect to SuperLoop, Cobo's off-exchange custody and clearing network, to further strengthen user asset security

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