Digital asset custody firm Cobo to discontinue its Wallet app on Dec. 1

Cobo is discontinuing its wallet app on Dec. 1, 2026, after nearly nine years of operation, the crypto custody and wallet infrastructure firm said Friday.

Users will have until 11:59 p.m. UTC+8 on Nov. 30 to withdraw or transfer their remaining assets. Cobo also advised users to update or remove receiving addresses linked to the app on exchanges, mining pools and other platforms to prevent funds from being sent to inactive addresses.

The shutdown is part of Cobo’s business strategy adjustment and applies only to the Wallet App, while the company’s other businesses will remain unaffected, it said.

Cobo will impose a monthly management fee on assets left in accounts after the shutdown. The fee is set at 2% of the remaining balance, subject to a minimum monthly charge equivalent to $100.

Deductions will be made in the original currencies held in the account, with no currency conversion, the firm noted. If the 2% calculation falls below the minimum, the $100-equivalent fee will be deducted proportionally according to each asset’s value, based on CoinMarketCap prices at the time.

In addition, Cobo will charge fees on the first day of each month for the previous month’s account management, beginning Jan. 1, 2027, for December 2026. Accounts holding less than $100 in total value will have their entire remaining balance deducted if it falls below the minimum fee. The fee policy will remain in effect until the assets are withdrawn or fully deducted.

Cobo was established by Discus Fish, co-founder of mining pool F2Pool, and Changhao Jiang, a former Facebook and Google engineer who co-founded crypto wallet Bihang.

The Singapore-headquartered company offers several types of wallets through APIs and SDKs and reports more than 500 institutional clients and over $200 billion in secured transactions.