Cobo Loop

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What is Cobo Loop

Cobo Loop is an all-in-one asset transfer network based on blockchain technology, designed to address issues such as transaction congestion and high fees in blockchain networks. By providing clearing and settlement services similar to traditional financial institutions, Cobo Loop enhances the efficiency of asset transfers. The principle behind Cobo Loop is that funds circulate between Cobo’s Custodial Wallets, allowing for instant, fee-free asset transactions.

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Key features

• Zero transaction fee: All users in Cobo Loop can transfer instantly without any transaction fee, making transactions more accessible and cost-effective.
• Instant confirmation: Transactions are confirmed immediately, ensuring a seamless and efficient experience for users.
• Multi-chain supported: With compatibility across over 80 blockchain networks, Cobo Loop offers unparalleled versatility for asset transfers across various platforms.

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Cobo Loop transfers

Cobo Loop transfers refer to instant, fee-free asset transactions facilitated by the Cobo Loop network, which aims to enhance efficiency and accessibility in the blockchain ecosystem. By default, most transfers between Cobo’s Custodial Wallets (Asset Wallets) are Cobo Loop transfers. If applicable, these transfers are automatically processed instantly and without fees.

You can use the transfer UI to check whether a specific transfer is eligible for Cobo Loop (as the following screenshot shows). For more details, refer to Transfer from Custodial Wallets (Asset Wallets).

Alternatively, through the WaaS 2.0 API, you can explicitly enforce or disable the use of Cobo Loop for a given transfer, depending on your business needs. If Cobo Loop is not applicable or disabled, the system will automatically fall back to standard on-chain transfers. For more details, refer to the destination.force_internal and destination.force_external parameters in the Transfer token operation.