Bitso Partners with Coincover for Enhanced Security

Coincover has launched a new service called 'Protected Co-Signing' aimed at enhancing security for digital asset transactions, particularly in light of rising fraud and hacking risks. This service will first be utilized by Onramp, a bitcoin asset-management platform, and is designed to encourage greater trust in cryptocurrencies at the institutional level. Concurrently, Bitso, the leading cryptocurrency exchange in Latin America, has partnered with Coincover to bolster its security measures against hacking and loss of access by integrating Coincover's infrastructure. This partnership will enable Bitso to provide non-custodial disaster recovery and real-time monitoring of outgoing transactions to mitigate security risks. Notably, cryptocurrency losses surged to $572 million in Q2 2024, highlighting the urgent need for enhanced security in the sector. These developments come as the crypto market anticipates significant changes from tech giants like Apple, which is expected to allow third-party payment apps that could support cryptocurrency transactions.