CoinW, a global cryptocurrency exchange, announces a strategic partnership with CoinCover – a digital asset protection provider – to significantly improve the security of users’ digital assets.
This partnership is said to underscore CoinW’s commitment to protecting funds against risks such as hacking, lost access, and “operational disruptions.”
CoinCover’s technology, which is reportedly backed by a “warranty” provided by insurers at Lloyd’s of London, integrates with CoinW’s infrastructure in order to “provide a non-custodial disaster recovery solution.”
This ensures that in the “unlikely” event of an operational failure, CoinW can swiftly recover access to their users’ assets, “maintaining an uninterrupted service.”
In addition to disaster recovery, CoinW will now aim to benefit from CoinCover’s real-time fraud protection risk engine, which “monitors transactions to detect and prevent potential security threats.”
This layer of protection improves CoinW’s fraud detection measures, setting a standard in asset safety and offering “reassurance” to users.
Anthony Yeung, Global Head of Strategic Development at CoinCover, adds: that stringent protection measures are “no longer an option, but an imperative for crypto exchanges.”
Yeung added that as more members of the public begin to engage with digital assets for the first time, the industry has “a collective responsibility to reassure investors that their funds are safe and secure.” They added that their own research found that concerns “around fraud and hacking are two of the biggest barriers to adoption, so addressing these challenges will be key to attracting new users and fostering a sustainable digital asset ecosystem.”
This partnership will give CoinW’s customers protection and represents another milestone in their mission of “building greater trust and confidence in crypto.”
CoinCover’s involvement reinforces CoinW’s position as a safe exchange in a rapidly evolving crypto landscape, where “security is paramount.”
With this partnership, CoinW continues to set itself apart by offering technology-driven asset protection “that goes beyond industry standards.”
As noted in the update, CoinW is a crypto exchange offering a range of services, including spot and futures trading, “advanced trading bots, and a fiat gateway.”
Known for its liquidity and infrastructure, CoinW is committed to providing fast, secure, and “user-friendly trading experiences.”
According to its developers, blockchain tech is enhancing the way industries operate, enabling “transparency, security, and efficiency across various sectors.”
But it also brings its “unique” risks. CoinCover exists to ensure that everyone is protected, enabling them to “invest and innovate.”
CoinCover provides digital asset protection, addressing the barrier to mainstream adoption: trust. Their protection ensures that “access and assets are never lost.”
Established back in 2018, CoinCover claims that it is backed by fintech and blockchain investors.
They claim to help more than 500 of the biggest names in blockchain, including Fireblocks, BitGo, and Ledger, “protect themselves and their customers from theft, hacking, and human error.”
