The USB spec is no longer 500mA. It's actually quite complicated now as there was an IEEE USB Battery Charging Spec started back in 2006 (as I recall), that allows up to 1.5A over USB. Devices negotiate how much they need / can get from the host. So, for a true USB host port, the USB device (kobo) will sort out how much it can have. For a "dumb" USB wall-charger, you'll want to be able to deliver the full rated requirement of 700mA.
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