Crypto Custodian Cobo Argus Hits $100 Million in Locked Value a Week After Going Live

Institutional client funds tied to crypto custodian Cobo’s Argus protocol have surpassed the $100 million mark within a week of its release, CEO Discus Fish told AskFX.

The company enables institutional users such as banks, asset managers, crypto funds and mining pools to securely store token holdings and participate in decentralized finance (DeFi) activities.

Cobo released Argus version 2 (V2) in late June, giving users access to features such as DeFi strategy authorization, team role delegation, and risk management. V2 is based on Safe, a decentralized crypto wallet.

“We are pleased to announce that the Total Value Locked (TVL) in Cobo Argus has reached a significant milestone of $100 million,” Fish said in a Telegram message.

Argus V2 supports all open source DeFi protocols and allows traders to leverage DeFi bots to automatically monetize farming rewards, compounding and token exchanges. Farming is a slang term for a way to earn rewards by depositing tokens into a decentralized application (dapp).