Coincover partners with VirgoCX and Netcoins

Through these partnerships, VirgoCX and Netcoins will integrate Coincover’s crypto-specific protection technology. This system is designed to ensure protection against cyber threats and prevent the loss of cryptocurrency due to both malicious activities and human error. In essence, the added security measures are intended to protect users from potential hacks and operational mistakes. 

Coincover’s platform also aids both companies in surpassing regulatory standards for asset protection. The Canadian Securities Administrators have advised crypto-asset platforms to protect customer funds from risks posed by cybercrime. Coincover’s risk management system will allow VirgoCX and Netcoins to exceed these recommendations, positioning them to lead in customer asset protection within the sector.

Strengthening security in the crypto market 

Coincover continues to expand its partnerships with the goal of increasing security across the cryptocurrency ecosystem. The inclusion of VirgoCX and Netcoins further supports its objective of creating a safer environment for crypto users, both in Canada and globally. 

Officials from Coincover commented on the importance of security in building market confidence. They noted that incidents of loss or theft can damage the reputation of companies and undermine trust in the industry, especially in regions such as Canada, where the crypto market is growing but concerns over security remain prevalent. 

Representatives from Netcoins emphasised the growing interest in cryptocurrency within Canada and the corresponding rise in security challenges. They remarked that Coincover’s technology provides an essential safety net, allowing the company to safeguard customer assets even under adverse conditions.  

In turn, officials from VirgoCX stated that the partnership with Coincover brings an added level of assurance for their clients’ digital assets. They explained that as cryptocurrencies become more integrated into the financial landscape, it is crucial to ensure that customers feel as secure with their digital holdings as they would with traditional fiat currencies.