Integration of TON blockchain boosts security of digital assets

Cobo, a provider of digital asset custody and wallet services, has declared its support for The Open Network (TON).
This collaboration will allow Cobo to bring its extensive custody solutions to the TON blockchain, including custodial wallets and multiparty computation wallet technology.
As a result of this partnership, Cobo will incorporate TON’s native Toncoin (TON) token, Notcoin (NOT), and stablecoins such as Tether (USDT).
The integration of Cobo and TON comes after a surge of Web3 backing for the blockchain, which is the foundation for Telegram’s new advertising platform.
The intention behind this integration is to enhance the security and adaptability of digital asset management for institutional clients while expanding Cobo’s service offerings.
However, the addition of the TON blockchain to Cobo’s services may expand token support for the wallet provider, but TON’s multichain architecture and sharding technology can present various technical challenges.
Cobo has a background of regulatory compliance as a provider of services to institutional clients.
With Toncoin recently receiving approval from the Kazakhstan Financial Services and Regulatory Committee (AFSA), the collaboration with Cobo is a strategic move.
Following the AFSA approval, Toncoin joined a list of 107 cryptocurrencies that have been approved by the government of Kazakhstan.
Despite the success of the TON ecosystem, there has been an increase in phishing attacks on the blockchain, as highlighted by SlowMist founder Yu Xian.
Xian stated on June 24 that the Telegram ecosystem was too free, with phishing links being circulated through the platform’s message groups, airdrops, and other deceptive methods.
While the Telegram messenger generally requires phone numbers to be linked to an account, Xian explained that the risk of phishing was higher for users with anonymous numbers, as their accounts could be lost if they fall victim to phishing on the platform.