This post was originally published on The FinTech Times
CoinW, the global cryptocurrency exchange based in the UAE, is partnering with CoinCover, a digital asset protection provider, to enhance the security of its users’ digital assets.
Leveraging technology from CoinCover, which is backed by a warranty provided by insurers at Lloyd’s of London, CoinW ensures it provides a non-custodial disaster recovery solution. This ensures that CoinW can swiftly recover access to their users’ assets in the unlikely event of an operational failure, maintaining an uninterrupted service.
In addition to disaster recovery, CoinW will also benefit from CoinCover’s real-time fraud protection risk engine, which actively monitors transactions to detect and prevent potential security threats. This layer of protection enhances CoinW’s existing fraud detection measures, setting a new standard in asset safety and offering greater reassurance to its users.
“Stringent protection measures are no longer an option, but an imperative for crypto exchanges,” explained Anthony Yeung, global head of strategic development at CoinCover. “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.
“Our own research found that concerns around fraud and hacking are two of the biggest barriers to adoption, so addressing
— Read the rest of this post, which was originally published on The FinTech Times.
