Coincover, a blockchain security business, has teamed up with VirgoCX and Netcoins, two of Canada’s notable cryptocurrency trading platforms.
The collaboration’s goal is to give client assets the best possible security.
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Also, the modern security solution from Coincover, tailored particularly for the cryptocurrency business, will help VirgoCX and Netcoins.
Coincover gives comprehensive protection, whilst users are safe from hackers and human errors since it will shield VirgoCX and Netcoins consumers against malicious activity as well as the loss of cryptocurrency.
In terms of asset safety, Coincover’s technology will also assist VirgoCX and Netcoins in surpassing regulatory standards.
By using Coincover’s risk management platform, VirgoCX and Netcoins will be able to meet these regulations and establish their own level of security, in line with the Canadian Securities Administrator’s recommendation that crypto-asset firms safeguard clients’ assets against theft and hacking.
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By GlobalDataAdditionally, in order to safeguard the cryptocurrency ecosystem, Coincover is constantly growing the alliances it has, and the inclusion of VirgoCX and Netcoins to its clientele will help it achieve its objective of providing a safe haven for cryptocurrency users in Canada and globally.
Digby Try, SVP Commercial at Coincover, stated: “Beyond the financial impact, reputations are needlessly ruined by instances of loss or theft, which damages confidence in the market. This is particularly the case in Canada, which is home to a burgeoning crypto industry but where security remains a paramount concern for users. Our cutting-edge risk protection ensures that, even in the event of a breach, your exchange can maintain trust and confidence with its customers. Having VirgoCX and Netcoins on board represents another major milestone in our mission of enabling crypto users to thrive and live safely in a blockchain enabled world.”
Fraser Matthews, CEO at Netcoins, added: “There is a significant amount of interest in cryptocurrency in Canada; as interest grows, so do the challenges, particularly around safety and security. Coincover’s solutions provide a game-changer in keeping crypto safe, ensuring we can access our clients’ assets even if the worst does happen. This extra layer of protection increases the resiliency of our business, significantly reduces the risk for users and helps attract high-value customers to our platform.”
Steve Bie, Chief Compliance Officer at VirgoCX, shared: “We’re thrilled to be working with Coincover to offer our clients that added reassurance surrounding their digital assets. Our partnership ensures protection from business theft that will safeguard users from hacking and other forms of cybercrime in a crisis. As crypto becomes more embedded into our financial ecosystem, it is vital that users feel their funds are as safe as they are in fiat institutions.”
