On Wednesday, September 28, 2022, Cobo, the largest custodian of digital assets in Asia and a provider of blockchain technology, announced its partnership with MetaMask Institutional, a DeFi wallet and Web3 gateway designed for cryptocurrency funds, market makers, trading desks, etc., to launch NaaS (NFT-as-a-Service).
NaaS is a custody solution for NFTs to allow its users to safely store their NFTs without sacrificing the flexibility and usability of their assets.
Under the partnership, institutions and individuals utilizing Cobo NaaS will be able to access DeFi and Web3 through the MetaMask Institutional Wallet.
Cobo will provide custodial security to securely safely its users’ NFT assets and also allow them to view comprehensive metrics for NFTs held across several wallets.
The partnership between Cobo and Metamask Institutional emerged from their desire to provide users and institutions with a one-stop platform for managing all of their NFT assets.
This aligns with Cobo’s aim of helping its users safeguard their NFT assets while simultaneously interacting with numerous platforms using MetaMask Institutional’s gateway, which can interact with over 17,000 DeFi protocols and apps. Dr Jiang Changhao, Co-Founder and Chief Technology Officer of Cobo, stated:
NaaS is a platform that allows users to securely store their NFTs without compromising usability and flexibility. With role-based access controls, institutions can easily manage their NFTs at a glance and define rules that govern the trading limits of each wallet. With this new partnership, users can easily connect via Metamask Institutional with one-click integration to interact within the Ethereum DeFi and Web3 ecosystem.
Users can sell, buy and trade their NFTs and participate in NFT minting, asset transfers, pledges, and other NFT management services over the Cobo NaaS interface.
Cobo NaaS currently supports only ERC 1155 and ERC 721 token standards, but it is anticipated that it will support additional token standards in the future.
Furthermore, Cobo NaaS will be the first to offer specialized team collaboration tools with parameter-level risk management and role-based access control as it is added to the list of custodial providers on MetaMask Institutional.
