Coincover partners with BitGo to address crypto security demand
Today, Coincover, the global leader in digital asset protection, announces its new partnership with BitGo, the leader in custody, wallet, and security solutions, enabling clients to benefit from wallet access failure by holding recovery data with a trusted third party.
Coincover and BitGo have collaborated since 2019, bringing an industry standard of protection to the digital asset economy by offering secure business continuity features to their institutional clients. BitGo clients are able to recover their wallets in a secure manner working with Coincover in the case they lose access to their keys.
As the crypto market matures, security and risk management is becoming an increasingly important consideration for customers and regulators alike. The partnership intends to apply lessons learned from recent events to create an industry standard of digital asset protection. This will help inform BitGo’s clients, enabling them to understand the security risks of digital assets while building trust to encourage mass adoption. Once a business has decided what kind of wallet set-up is optimal, Coincover can provide a trusted back-up and recovery solution to alleviate the risks of the business having to determine that for themselves.
By collaborating with Coincover, BitGo and its clients can manage security risks simply and effectively.
Gavin Kip, Senior Security Product Manager BitGo, said, “As a pioneer of blockchain infrastructure, security has always been critical to us, but we are constantly looking for ways to improve. There is no such thing as too secure. That’s why we have elevated our relationship with Coincover, to integrate the option of storing backup keys with Coincover for all BitGo’s coin offerings. Their technology is unparalleled when it comes to security and acts as a failsafe against disaster situations in case we – or one of our clients – fail in some way. It is a valuable additional layer to our security and will ensure we maintain our reputation as the best and safest place to store digital assets.”
Oliver Cummings, Strategic Partnerships Director at Coincover, said, “This is another big step forward in our mission to make crypto accessible to everyone, by making it safe to hold and use. BitGo is one of the most respected names in the market and this further establishes us as the industry standard for safeguarding digital assets. We are delighted to be working with BitGo as we continue our mission to bring safety and protection to the crypto market.”
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