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 these challenges will be key to attracting new users and fostering a sustainable digital asset ecosystem.”
CoinCover’s involvement reinforces CoinW’s position as a reliable exchange in a crypto landscape where security is paramount.
“At CoinW, protecting our users’ digital assets is at the heart of everything we do,” Sonia Shaw, president of CoinW, also added. “By partnering with CoinCover, we are taking proactive steps to provide the highest levels of security, ensuring our users can trade with confidence. This collaboration reflects our mission to build trust, transparency, and long-term value for our global community.”
