Cobo and Bitmap Tech Join Forces to Establish Merlin Chain, a Bitcoin Layer 2 Network with MPC Custody Technology
SINGAPORE, Feb. 02, 2024 (GLOBE NEWSWIRE) -- Cobo, a leading provider of digital asset custody solutions, has announced a strategic partnership with Merlin Chain, an innovative Bitcoin Layer 2 solution.
- Merlin Chain is a subsidiary product line from Bitmap Tech (formerly RCSV), a premier team boasting an overall market cap exceeding $500 million.
- Merlin Chain will bridge multiple native assets from Bitcoin Layer 1 to Layer 2, utilizing Cobo’s cutting-edge MPC wallet solution - Cobo MPC Co-Managed Custody, to ensure all funds remain non-custodial and secure.
- Cobo MPC Co-Managed Custody solution employs advanced Multi-Party Computation technology to implement a Threshold Signature Scheme.
- Our pioneering Layer 2 solution, Merlin Chain, fueled by the power of Cobo’s MPC Co-managed Custody, is set to redefine user experience, security, and accessibility of the Bitcoin network.”