SINGAPORE – Cobo, a pioneer in digital asset custody, has teamed up with Bitmap Tech to introduce Merlin Chain, a groundbreaking Bitcoin Layer 2 solution. This partnership leverages Multi-Party Computation (MPC) custody technology to enhance security and scalability for Bitcoin-native assets.
What Is Merlin Chain?
Merlin Chain is an innovative Bitcoin Layer 2 network developed by Bitmap Tech (formerly RCSV), a team with a $500M+ market cap portfolio. Key features include:
- ZK-Rollup integration for scalability.
- Decentralized oracle networks for data reliability.
- On-chain BTC fraud-proof modules for security.
The platform aims to "Make Bitcoin Fun Again" by empowering Layer 1 assets, protocols, and products through its Layer 2 infrastructure.
Cobo’s Role in Merlin Chain
Cobo provides its MPC Co-Managed Custody solution to secure cross-chain transactions:
- Non-custodial asset storage: Funds are held in an MPC wallet jointly managed by Cobo and Merlin Chain.
- Threshold Signature Scheme (TSS): Private keys are distributed across multiple parties, eliminating single points of failure.
- Institutional-grade security: All transactions undergo rigorous risk assessments before approval.
Future Developments
Cobo’s custody solution will soon support native tokens on Merlin Chain, enabling users to securely manage assets within the ecosystem.
Leadership Perspectives
- Changhao Jiang (Co-Founder & CTO, Cobo):
"We’re excited to collaborate with Bitmap Tech to deliver institutional-grade wallet infrastructure for Merlin Chain, unlocking Bitcoin’s full potential." - Jeff (Founder & CEO, Bitmap Tech):
"Partnering with Cobo allows us to redefine Bitcoin’s accessibility and security through Merlin Chain."
FAQs
1. How does Merlin Chain improve Bitcoin’s functionality?
Merlin Chain enhances scalability and usability for Bitcoin-native assets via its Layer 2 network, integrating ZK-Rollups and decentralized oracles.
2. What makes Cobo’s MPC custody secure?
Cobo’s MPC technology ensures private keys are never stored in one location, reducing risks of hacks or human error.
3. Will Merlin Chain support other cryptocurrencies?
Currently focused on Bitcoin-native assets, Merlin Chain may expand support in the future.
👉 Explore Cobo’s custody solutions
👉 Learn more about Merlin Chain
About Cobo
A global leader in digital asset custody, Cobo offers:
- Custodial and non-custodial wallets (MPC, smart contracts).
- DeFi management (Argus) and off-exchange settlements (SuperLoop).
- Compliance: ISO27001, SOC2 Type 1/2 certified.
About Merlin Chain
A Bitcoin Layer 2 solution by Bitmap Tech, Merlin Chain supports:
- BRC-420 "Blue Box" (top Ordinals asset).
- ZK-Rollups and fraud-proof modules.
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