Bitso, a top crypto exchange operating in Latin America, has enlisted the services of Coincover to protect user assets from hacks and more.
According to Bitso, Coincover will provide protection against thefts and lost access thus providing a higher degree of safety for its account holders. Coincover provides “non-custodial disaster recovery solution” that is said to enable recovery in the event of an operational or tech failure.
Bitso will also be using Coincover’s Risk Engine which is designed to identify risks adding another layer of protection to Bitso’s existing fraud prophylactics.
Bitso notes that in Q2 of this year, over $572 million in digital assets were lost – more than double the same quarter last year.
Nano Rodriguez, Head of Strategic Alliances at Bitso, said the relationship with Coincover reinforces their commitment to providing a secure and trusted platform.
Bitso currently reports more than 8 million clients including 1700 institutional customers.
Coincover says it currently works with more than 500 of the biggest names in blockchain.
