BitGo Joins Forces with Coincover to Enhance Wallet Security

UK-based fintech Coincover has partnered with security solutions provider BitGo to allow clients to benefit from wallet access recovery.

The two companies have been working together since 2019 to provide secure business continuity features to their institutional clients. This new partnership will allow BitGo clients to recover their wallets in a secure manner by tapping Coincover in case they lose access to their keys.

According to the company press release, the two companies are looking to create an industry standard of digital asset protection by applying lessons learned from recent events. The goal is to make sure that BitGo’s clients will be able to understand the security risks of digital assets while building trust to encourage mass adoption. Once a business decides what kind of wallet set-up they want to go with, Coincover creates a backup and recovery solution to minimise the risks of the business having to determine that for themselves. 

Coincover officials revealed that this partnership represents another step forward in their mission to make crypto accessible to everyone by making it safe to hold and use.

(Source: The Paypers)