BitGo taps Coincover to allow clients to store backup keys for wallet recovery

Digital asset protection provider Coincover has expanded its partnership with BitGo to enable clients to benefit from wallet access failure by holding recovery data with a trusted third party.

Collaborating on digital asset security features for institutional clients since 2019, Coincover and BitGo are now bringing wallet recovery capabilities for users that lose access to their keys.

The partnership intends to apply lessons learned from recent events to create an industry standard of digital asset protection. Once a business has decided what kind of wallet set-up is optimal, Coincover can provide a trusted backup and recovery solution to alleviate the risks of the business having to determine that for themselves.

Option of storing backup keys with Coincover for all BitGo’s coin offerings

Gavin Kip, Senior Security Product Manager BitGo, said: “As a pioneer of blockchain infrastructure, security has always been critical to us, but we are constantly looking for ways to improve. There is no such thing as too secure. That’s why we have elevated our relationship with Coincover, to integrate the option of storing backup keys with Coincover for all BitGo’s coin offerings. Their technology is unparalleled when it comes to security and acts as a failsafe against disaster situations in case we – or one of our clients – fail in some way. It is a valuable additional layer to our security and will ensure we maintain our reputation as the best and safest place to store digital assets.”

Oliver Cummings, Strategic Partnerships Director at Coincover, said: “This is another big step forward in our mission to make crypto accessible to everyone, by making it safe to hold and use. BitGo is one of the most respected names in the market and this further establishes us as the industry standard for safeguarding digital assets. We are delighted to be working with BitGo as we continue our mission to bring safety and protection to the crypto market.”