Cobo plans to announce a brand refresh and present updated institutional wallet capabilities, including an upgraded product for enterprise and agent payment use cases. According to Foresight News, the showcase is planned for Singapore FinTech Festival (SFF) in mid-November.

Cobo said its personal Cobo Wallet App stopped accepting new registrations in 2021 but remained available to existing users, giving them time to withdraw their funds. The announced shutdown will end the company’s consumer wallet services and will not affect its institutional and enterprise wallet or custody businesses.

Cobo said the brand and product updates are part of its continued focus on institutional business. Building on its wallet and custody services, the company plans to expand payment use cases for institutions, businesses and agents managing digital assets.