USE CASE
Prioritising protection: Bitso taps Coincover to bolster digital asset protection
Bitso, a leading regulated Crypto exchange based in Latin America, is dedicated to providing safe and secure buying, selling, holding, investing and trading of digital assets. Coincover’s disaster recovery technology and risk protection will provide Bitso’s customers with best-in-class security.
"By partnering with Coincover, we are reinforcing our commitment to providing a secure and trusted platform for our users." - Nano Rodriguez, Head of Payments & Strategic Alliances at Bitso
About Bitso
About Bitso and their mission
Bitso, a leading regulated Crypto exchange based in Latin America, is dedicated to providing safe and secure buying, selling, holding, investing and trading of digital assets. Founded in 2014, they have rapidly grown to become the leading exchange in the region, serving eight million retail customers across multiple countries, including Mexico, Argentina, Brazil and Colombia, with over 1,700 Institutional clients all over the world. Bitso's mission is to make crypto useful by becoming the region’s most reliable and trusted crypto company, bridging the gap between traditional finance and the emerging world of cryptocurrencies.
"This year marks Bitso’s 10th anniversary. We’ve seen remarkable growth, with our international transfers operation increasing by 187% in the last year. As market leaders, we always strive to do things right and provide our customers with the best experience and the highest level of security."
Nano Rodriguez
Head of Payments & Strategic Alliances at Bitso
Serving retail, business, and Institutional customers, Bitso understands their needs and works hard to provide a valuable, trusted product. The security and safety of digital assets have remained a key priority of Bitso’s customer base.
The challenge
Going above and beyond
Trust and transparency have always been core to Bitso’s DNA. Bitso were the first regulated crypto exchange in Latin America and is the only exchange in the region to obtain a Distributed Ledger Technology (DLT) licence from the Gibraltar Financial Services Commission (GFSC), one of the most stringent frameworks for regulating cryptocurrency activities. It highlights their longstanding commitment to providing a transparent service that their customers can trust.
Bitso’s regulated status puts them in the top tier of crypto exchanges. However, the crypto threat landscape is constantly evolving, and the risk of losing access to funds or falling victim to theft is a real and constant threat. While regulation mandates controls to limit exposure to these risks, Bitso wanted to set their own standard, going beyond these requirements to provide complete protection.
"At Bitso, we are aware of the challenges and potential impact of the risks and threats faced by the crypto industry, including cyber-attacks, fraud, and operational failures. By prioritising trust and transparency, we are committed to implementing robust security measures to mitigate these risks and ensure the safety of our users’ digital assets."
Nano Rodriguez
Head of Payments & Strategic Alliances at Bitso
The solution
Protection that grows with the customer
To address the ever-evolving crypto threat landscape, Bitso is working with Coincover to provide an added layer of protection for their digital assets.
Bitso’s MPC infrastructure benefits from Coincover’s non-custodial disaster recovery solution, enabling Bitso to recover access to
funds in the event of an operational or technological failure.
To extend its risk mitigation capabilities, Bitso will deepen its integration with Coincover to benefit from complete protection. This monitors outgoing transactions in real-time, complementing Bitso’s existing fraud prevention measures to actively identify and proactively mitigate threats. Coincover’s risk mitigation platform provides peace of mind for both Bitso and its customers.
"As we continue to grow and expand our services, ensuring the safety and security of our customers’ digital assets remains our top priority. By partnering with Coincover, we are reinforcing our commitment to providing a secure and trusted platform for our users. This collaboration allows us to offer unparalleled protection and peace of mind, making Bitso the most reliable cryptocurrency exchange in Latin America."
Nano Rodriguez
Head of Payments & Strategic Alliances at Bitso
You can visit their site here to see what Bitso has been building.