Cobo partners with Pacific Water Drop Digital Asset Fund to provide custody solutions services.

BlockBeats news on February 29th, digital asset custody solution provider Cobo announced a partnership with Pacific Waterdrip Digital Asset Fund, jointly participated by Waterdrip Investments and China Taiping Asset Management (Hong Kong) Limited, to provide custody solutions for the fund. Waterdrip Investments is the Hong Kong subsidiary of Waterdrip Capital Group. In 2023, China Taiping Asset Management (Hong Kong) Limited and Waterdrip Investments announced their plan to jointly participate in two digital asset funds. Pacific Waterdrip Digital Asset Fund I (venture capital fund) will invest in the primary market, participating in seed and private equity rounds of blockchain early-stage projects. Pacific Waterdrip Digital Asset Fund II (POS token income enhancement fund) will invest in the secondary market, holding primarily digital assets with POS consensus mechanism. The main target investors of the two funds include institutional investors such as enterprises and family offices, as well as high-net-worth individual investors. In January 2024, China Taiping Asset Management (Hong Kong) Limited announced that it will serve as an investment advisor and distributor for a new Cayman fund focused on mainstream virtual assets such as Bitcoin (BTC) in the secondary market. This partnership further demonstrates the high trust traditional financial institution clients have in Cobo custody, and showcases Cobo's strong service capabilities in providing security for traditional institutions and compliant funds in Hong Kong interested in investing in digital assets.