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Cobo launches the Settlement Network, providing stablecoin clearing and settlement infrastructure for institutions

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ME News, July 28 (UTC+8), digital asset custody and wallet infrastructure provider Cobo launched its Settlement Network (SN), offering institutions stablecoin settlement infrastructure to help trading counterparties securely complete fiat and stablecoin settlements. In SN’s settlement process, fiat funds are deposited into a bank VA account opened with assistance from Cobo, while stablecoins go into Cobo’s custody account; after the system verifies that both parties’ funds have arrived and are in a pending-delivery state, it then synchronizes and executes the delivery, without requiring either party to make a unilateral payment first, thereby reducing the risk of counterparty default. The counterparties, tokens, prices, and terms of the trades are still agreed upon by the two sides themselves; after both parties confirm, Cobo provides a safe, controllable, and traceable settlement execution. SN supports stablecoins and multiple currencies such as the US dollar, and is suitable for scenarios including capital operations, merchant settlement, cross-border payments, and liquidity management. (Source: Foresight News)
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