Digital Assets: Cobo, Coincover to Provide Disaster Recovery

Coincover, the digital asset protection company, announces a new partnership with Cobo, which claims to be the largest digital asset custodian and blockchain infrastructure provider in the Asia Pacific (APAC) region.

This news comes shortly after Coincover’s recent successful $30 million funding round.

Cobo explains that it is “a pioneer of blockchain technology and is therefore constantly looking for innovative ways to improve the industry’s security standard, with security becoming increasingly imperative.”

The partnership “gives all of Cobo’s customers, including asset managers and exchanges, access to the market leading protection against disaster situations, such as hacking, downtime, or loss through human error.”

Coincover’s position as a secure third-party “can prevent Cobo’s clients from losing access to wallets should they fail to back up private keys independently.”

The partnership “supports growth for both parties, ensuring Cobo’s offering is unbeatable and supporting Coincover’s expansion into APAC, while also giving wallet owners’ peace of mind in knowing their digital assets are protected to the highest standard available.”

Dr Changhao Jiang, Co-Founder & CTO at Cobo said:

“This partnership is an important part of our strategy. We are taking digital asset infrastructure to the next level, which means we also need to provide our clients with the best protection standard. It soon became clear that Coincover was a service we needed to tap into. Coincover’s technology adds an essential layer of security in protecting our customer’s digital assets.”

He added:

“This partnership also gives us a competitive edge on top of our recently announced SuperLoop, an off-exchange custody and settlement network, which helps reduce the risks of centralised exchanges. We are the first major infrastructure provider in Asia to partner with Coincover, meaning we are ahead of the curve on protection and are uniquely positioned to provide the most secure crypto wallets to financial institutions across Asia, and beyond.”

Oliver Cummings, Strategy & Partnerships Director at Coincover, said:

“This marks a significant expansion of our technology into Asia. We are rapidly becoming the industry standard for security and are now well-established in the US and EMEA. But to succeed in our mission to make crypto as safe as possible, we must build our presence in Asia, which has a booming crypto market. The good news is we are in a very strong position to do so.”

Oliver added:

“It’s gradually becoming essential for crypto firms all over the world to have disaster recovery technology or they risk giving their competitors an edge. We want people to be asking ‘Do you have Coincover?’ when speaking to custodians. Eventually, it will be detrimental if you don’t, which is exactly what we want if we are going to transform attitudes to security in digital assets.”

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