Singapore - February 29, 2024 - Cobo, a leading provider of digital asset custody solutions, has announced a strategic partnership to provide custody solutions for digital asset funds participated by CPIC Investment Management (H.K.) Company Limited and Waterdrip Investments. Waterdrip Investments, headquartered in Hong Kong, is a subsidiary of the Waterdrip Capital.
This partnership underscores the trust that traditional financial institutions place in Cobo’s custody technologies and demonstrates Cobo’s commitment to providing secure, compliant custody solutions for digital asset funds in Hong Kong. With the local government's strong support for the digital asset sector, investors and entrepreneurs have been searching for solutions that comply with regulatory standards. With a presence in Hong Kong since 2019, Cobo has taken the lead in advancing the city’s digital asset industry, offering custody solutions that prioritize safety, security, and regulatory compliance, from custodial wallets to non-custodial wallets.
Cobo will provide custody solutions for the two digital asset funds, Pacific Waterdrip Digital Asset Fund I (a venture capital fund that focuses on primary investments into early-stage blockchain projects) and Pacific Waterdrip Digital Asset Fund II (a POS token yield enhancement fund that invests into the secondary market). Both funds will focus on institutional investors including corporations, family offices, and high-net-worth individuals.
CPIC Investment Management (H.K.) Company Limited was given the approval from the Securities & Futures Commission of Hong Kong in September 2023 to provide distribution and investment advisory services to funds with more than 10% investment in digital assets. In January 2024, they announced their role as the investment advisor and distributor for a newly established Cayman-based fund focusing on major digital assets, including Bitcoin (BTC).
"Cobo is honored to provide custody solutions for the two funds. With Hong Kong's recent advancements in cryptocurrency regulations, we anticipate a significant influx of traditional institutional investors into the digital asset space. A secure, reliable, technologically advanced, and regulatory-compliant custody solution that facilitates seamless on-chain interactions, efficient team collaboration, and robust risk management is critical for the adoption of digital assets by institutional investors. We are committed to contributing to the thriving growth of Hong Kong's digital asset industry through our advanced wallet technologies and custody services,” said Discus Fish, Co-Founder and CEO of Cobo.
"Waterdrip and Cobo have a longstanding history of partnership. We have consistently been impressed by the sophistication and security of their digital asset custody technology. We foresee a trend where institutions, family offices, and high-net-worth individual investors will increasingly diversify their portfolios to include digital assets. Investment in digital assets demands long-term commitment and an unwavering focus on asset security. With Cobo's leading-edge custody solutions, we are confident that our digital assets will be safeguarded with the highest security standards," said Jademont, Founder of Waterdrip Capital.
About Cobo
Cobo is a globally trusted leader in digital asset custody solutions. As the world’s first omni-custody platform, Cobo offers the complete spectrum of solutions from custodial wallets to non-custodial wallets including regulated full custody, MPC based technology solution and smart contract wallets, as well as Wallet-as-a-Service, a DeFi management platform (Argus), and an off-exchange settlement network (SuperLoop). Trusted by over 500 institutions worldwide to safeguard billions in digital assets, Cobo inspires confidence in digital asset ownership by enabling safe and efficient management of digital assets and interactions with Web 3.0. Cobo is ISO27001 certified, SOC2 Type 1 and Type 2-compliance-certified, and licensed in 4 jurisdictions.
For more information, please visit www.cobo.com.
About Waterdrip Capital
Founded in 2017, Waterdrip Capital is an international investment institution focusing on the blockchain vertical, dedicated to becoming an organic bridge connecting the traditional financial market and the blockchain ecosystem, and has invested in more than 100 domestic and international blockchain projects before and after its establishment in the past 5 years.
About CPIC Investment Management (H.K.) Company Limited
CPIC Investment Management (H.K.) Company Limited holds Hong Kong SFC licenses for Type 1, dealing in securities, Type 4, advising on securities, and for Type 9, asset management. Its parent company is China Pacific Insurance Group Limited and the group's subsidiary, Pacific Asset Management Co., Ltd.