The digital asset security business Coincover, which has its headquarters in London, raised a total of $30 million in funding in a round that was headed by Foundation Capital and included a follow-on investment from CMT Digital. Foundation Capital also led the fundraising round.
According to the release that was issued by Coincover, the money will be utilized to assist increase the overall security of the cryptocurrency ecosystem by scaling the operations of the firm, driving recruiting, developing new products, and forming collaborations with other organizations. Coincover will be able to provide an even more comprehensive level of security to people and organizations who are holders of digital assets as a result of this.
In the year 2018, Coincover was founded, and the following year, it was released into the market with the objective of generating a degree of trust within the digital asset industry. Already, the company works with more than 300 different businesses, some of which include wallets, exchanges, hedge funds, family offices, and banks, in addition to a number of digital asset custodians.
Coincover’s mission is to provide the digital asset market with a defense not just against hacker assaults but also against the mistakes that may be made by human operators. In this way, Coincover hopes to solve the security issues that have been plaguing the industry as a whole. Coincover’s goal is to make the cryptocurrency business more reputable and established by reducing the number of frauds and other fraudulent activities that are taking place. It is said that the organization’s services not only reduce the risks associated with transferring and storing bitcoin but also change people’s perceptions of digital assets and encourage improved levels of trust within the industry. This is because the services change people’s perceptions of the risks associated with digital assets.