Cobo Launches Settlement Network to Provide Stablecoin Clearing Infrastructure
Cobo has launched the Settlement Network (SN), providing institutions with a stablecoin clearing infrastructure to help both parties securely complete settlements between fiat currencies and stablecoins. In the SN settlement process, fiat currency enters the bank VA account opened with Cobo's assistance, while stablecoins enter Cobo's custody account. Once the system confirms that both parties' funds are in place and in a pending delivery state, the settlement is executed simultaneously without requiring either party to make a unilateral payment in advance, thereby reducing the risk of counterparty default. The counterparties, currencies, prices, and terms of the transaction are agreed upon by both parties, and Cobo provides a secure, controllable, and traceable settlement execution after mutual confirmation. The SN supports stablecoins and various currencies, including USD, and is suitable for scenarios such as fund operations, merchant settlements, cross-border payments, and liquidity management.
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