Bitso has collaborated with Coincover to boost digital asset protection.
Takeaway Points
- Bitso has collaborated with Coincover to boost digital asset protection.
- By combining Bitso’s multi-party computation (MPC) infrastructure, Coincover delivers a non-custodial disaster recovery solution.
Bitso collaborates with Coincover.
Bitso, the leading cryptocurrency exchange in Latin America, said on Thursday that it has collaborated with Coincover, the blockchain protection company, to provide security for digital assets. This partnership will give Bitso complete protection against disaster situations, such as hacking or lost access, safeguarding customers’ funds.
By combining Bitso’s multi-party computation (MPC) infrastructure, Coincover delivers a non-custodial disaster recovery solution. This enables Bitso to swiftly recover lost access in the event of an operational or technological failure, the blockchain company said.
Nano Rodriguez, Head of Strategic Alliances at Bitso, said that by collaborating with Coincover, they are reinforcing their commitment to provide a secure platform for users.
“As we continue to grow and expand our services, ensuring the safety and security of our customers’ digital assets remains our top priority. By partnering with Coincover, we are reinforcing our commitment to providing a secure and trusted platform for our users. This collaboration allows us to offer unparalleled protection and peace of mind, making Bitso the most reliable cryptocurrency exchange in Latin America,” Rodriguez said.
Digby Try, Senior Vice President at Coincover, commented about the collaboration, saying “Blockchain protection is an absolute necessity for crypto firms, rather than merely a ‘nice-to-have’. Latin America has the highest preference for centralised exchanges amongst crypto users in the world. While this is a sign of the industry’s growth in the region, it means these exchanges are increasingly becoming the targets for hacks and scams. It is essential that crypto exchanges can give their customers complete reassurance that their funds are safe from these threats, or they risk giving competitors an edge. Our partnership will give Bitso’s customers the gold standard for asset protection and represents another major milestone in our mission of building greater trust, confidence, and safety in crypto.”
According to the report, Bitso will deepen its integration with Coincover’s to benefit from complete protection to monitor outgoing transactions in real-time to actively identify and mitigate security risks, complementing Bitso’s existing fraud prevention measures. Coincover’s risk solution adds an extra layer of protection compared to existing solutions on the market.
About Bitso
Bitso is Latin America’s leading financial services company, powered by crypto, with a community of more than 8 million clients and 1,700 institutional clients. Bitso offers a wide range of products: from a secure and easy-to-use digital platform for earning returns, making international transfers and payments to exchanging and storing a variety of more than 50 cryptocurrencies, as well as crypto-powered products for institutional clients, including crypto-investment and transactions, cross-border payments, among others.
Founded in 2014 with over 500 employees in 35 different countries, Bitso is working to make crypto useful by unlocking the power of borderless, secure, easy-to-use financial products. Bitso remains committed to empowering the region by providing universal access to the digital economy of the future and enabling a fairer monetary system.
About Coincover
Blockchain technology is changing everything. However, it brings its own set of unique risks. Coincover exists to ensure everyone is protected, enabling them to innovate freely, without constraints. Coincover provides a complete blockchain protection solution, addressing the most significant barrier to mainstream adoption: trust. Our protection solutions ensure that access and assets are never lost. Founded in 2018, Coincover is backed by leading fintech and blockchain investors. Today, we help over 500 of the biggest names in blockchain, including Fireblocks, BitGo, and Ledger, protect themselves and their customers from theft, hacking, and human error.
