Coincover, the blockchain protection company, today announces partnerships with two of Canada’s leading crypto trading platforms, VirgoCX and Netcoins. The partnerships will aim to provide the best-in-class security for customer assets.
VirgoCX and Netcoins will benefit from Coincover’s industry-leading protection technology designed specifically for the crypto market. It will protect customers of VirgoCX and Netcoins against both malicious activity and the loss of cryptocurrency, meaning users are safe from hackers and human error. Coincover provides a complete defence.
Coincover’s solution will also help VirgoCX and Netcoins exceed regulatory requirements with regard to asset protection. With the Canadian Securities Administrator recommending crypto-asset companies protect customers against losing assets due to cyber and crime threats, Coincover’s risk management platform will enable VirgoCX and Netcoins to exceed these requirements and set their own standard of protection.
Coincover is continually expanding its partnerships to protect the crypto ecosystem and the addition of VirgoCX and Netcoins to its client roster will further support its goal of creating a secure environment for users of crypto in Canada and globally.
Digby Try, SVP Commercial at Coincover, says: “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, says: “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, says: "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.”