Cobo, a provider of digital asset custody and wallet services, has revealed its plans to back The Open Network (TON) blockchain. This partnership will see Cobo offering its custody solutions to the TON blockchain, including custodial wallets and multiparty computation wallet technology. The collaboration will also involve the integration of TON's native Toncoin (TON) token, Notcoin (NOT), and stablecoins like Tether (USDT). By joining forces, Cobo aims to enhance the security and flexibility of managing digital assets for institutional clients. Despite the potential benefits of expanding token support, challenges may arise due to TON's multichain architecture and sharding technology. With regulatory approval from the Kazakhstan Financial Services and Regulatory Committee (AFSA) for Toncoin, Cobo's decision to support TON appears to be a strategic move. However, concerns have been raised about phishing attacks within the TON ecosystem, highlighting the importance of security measures in the crypto space. Read more AI-generated news on: https://app.chaingpt.org/news