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Cobo, a digital asset custody and wallet provider, has announced that it will support The Open Network (TON).&nbsp;
This integration brings Cobo’s comprehensive custody solutions to the TON blockchain, including custodial wallets and multiparty computation wallet tech.
Through the collaboration, Cobo will integrate TON's native Toncoin (TON) token, Notcoin (NOT) and stablecoins such as Tether (<a href="https://cointelegraph.com/tether-price-index" rel="noopener noreferrer nofollow">USDT</a>).
Related: <a href="https://cointelegraph.com/news/telegram-ton-tokenizing-emojis-stickers-nfts" rel="noopener noreferrer nofollow">Telegram commits to TON blockchain, plans to support tokenized emojis and stickers NFTs</a>
<h2 data-ct-non-breakable="true" id="ton-integration">TON integration</h2>
The integration between Cobo and TON follows <a href="https://cointelegraph.com/news/ton-telegram-attract-web3-investors-ad-platform" rel="noopener noreferrer nofollow">a large influx of Web3 support</a> for the blockchain, which powers Telegram’s new advertising platform.
The integration aims to improve the security and flexibility of digital asset management for institutional clients and increase Cobo’s service offerings.
Although adding the TON blockchain to Cobo’s services can expand token support for the wallet provider, TON's multichain architecture and sharding tech can present multiple technical hurdles.
Related: <a href="https://cointelegraph.com/news/ton-blockchain-launches-115-million-community-incentive-program" rel="noopener noreferrer nofollow">TON blockchain launches $115M community incentive program</a>
<h2 data-ct-non-breakable="true" id="regulatory-compliance">Regulatory compliance</h2>
Cobo’s platform has a regulatory compliance history as a provider of institutional client services.&nbsp;
With Toncoin recently being approved by the Kazakhstan Financial Services and Regulatory Committee (AFSA), the partnership is a strategic move for Cobo.
Following the AFSA approval, <a href="https://cointelegraph.com/news/toncoin-gains-regulatory-approval-kazakhstan" rel="noopener noreferrer nofollow">Toncoin joined a list of 107 cryptocurrencies</a> approved by the government of Kazakhstan.&nbsp;
Related: <a href="https://cointelegraph.com/news/ton-telegram-attract-web3-investors-ad-platform" rel="noopener noreferrer nofollow">TON continues to attract Web3 firms as Telegram Ad Platform goes live</a>
<h2 data-ct-non-breakable="true" id="like-shooting-phish-in-a-barrel">Like shooting ‘phish’ in a barrel</h2>
Despite the success of the TON ecosystem, <a href="https://cointelegraph.com/news/ton-phishing-attacks-slowmist-warns" rel="noopener noreferrer nofollow">there has been a rise in phishing attacks</a> on the blockchain, as described by SlowMist founder Yu Xian.
On June 24, Xian argued that the Telegram ecosystem was “too free,” with phishing links spread through the platform’s message groups, airdrops and other “deceptive methods.”
Although the Telegram messenger typically requires phone numbers to be tied to an account, Xian explained that phishing risks were higher for users with anonymous numbers.
Users of this nature do not have accounts linked to SIM cards, and as such, their accounts can be lost if they are phished by bad actors on the platform.
Magazine: <a href="https://cointelegraph.com/magazine/vaneck-files-for-solana-etf-ether-supply-inflates-hodlers-digest-june-23-29/" rel="noopener noreferrer nofollow">VanEck files for Solana ETF, Ether supply inflates, and more: Hodler’s Digest, June 23-29</a>

TON blockchain integration enhances digital asset security

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