COBINHOOD is a next-generation cryptocurrency service platform founded in 2017 by Popo Chen, founder of 17 Media. The company operates a zero-fee, high-frequency cryptocurrency trading exchange and has launched a decentralized blockchain platform called DEXON. DEXON is described as an infinitely scalable, permissionless distributed ledger that uses a blocklattice of parallel blockchains to increase throughput and energy efficiency. COBINHOOD and DEXON aim to drive mass adoption in the banking industry and real-world payments, targeting use cases such as everyday banking, exchanges, and micropayments. The company has attracted strategic investment from IDG Capital to support DEXON’s development and go-to-market efforts. The article highlights COBINHOOD’s vision of shaping a decentralized financial landscape that can compete with existing payment and banking infrastructure. COBINHOOD launched in 2017 as a next-generation cryptocurrency service platform promoting a zero-fee, high-frequency exchange. The exchange is designed to process more than one million orders per second using a proprietary order-matching engine with sub-millisecond latency to enable real-time trading. It features margin trading with up to 10X leverage funded by COBINHOOD’s margin funding service, will support over 10 fiat currencies, and plans to add spot and additional margin trading later in the year. The company plans to launch ICO underwriting capabilities in 2018, underwriting selected ICOs after due diligence, smart contract review and legal compliance. Financially, COBINHOOD secured $5 million in seed funding (including Banyan Capital and Infinity Venture Partners) and completed an ICO presale that raised another $5 million; it plans a public ICO issuing 1 billion COB tokens (ERC-20), with up to 500 million available via Ethereum starting Sept. 13, 2017. Security measures include storing 98% of cryptocurrency deposits in an offline multisig vault requiring 5 of 8 geo-distributed hardware security modules to open, insurance for assets in online wallets, and multi-lingual customer support.

Total raised

$5M

Funding rounds

2

Latest round

Seed

Latest activity

Sep 2017