CoinCover partners with Taurus to enable institutional-grade wallet recovery
The integration provides a critical layer of operational resiliency for Taurus’ clients, safeguarding access to assets
Today, CoinCover, the leading digital asset disaster recovery firm, announces its partnership with Taurus, the market leader in self-custody technology. The partnership will see Taurus integrate CoinCover’s Recover for Institutions product, which will provide its institutional clients with vital digital asset recovery capabilities.
Taurus’ institutional clients include established financial institutions such as systemic banks, private banks, and crypto banks, among others. Through the partnership, such organisations will be able to access CoinCover’s institution-grade recovery product directly through their own integration with Taurus, and for the first time, maintain key back-ups for their on-premise digital asset infrastructure.
The partnership comes amidst greater adoption of digital assets by traditional financial organisations, with research indicating that soon almost two-thirds (65%) of financial institutions will be active in digital assets. CoinCover provides the critical infrastructure layer that enables institutions to embrace this new world of finance securely. Having pioneered digital asset protection in 2018, CoinCover enables institutions and their crypto users to hold digital assets with confidence by providing wallet recovery solutions, underpinned by world-class encryption and secure storage.
Now, Taurus clients will be able to either store their encrypted recovery package in CoinCover's AWS secure storage or within CoinCover offline vaults, with a single interface to manage wallet recovery, create controlled access and approvals, and generate auditable logs of tests and recoveries.
Jeremy Verba, Chief Executive Officer at CoinCover, said: “Institutional adoption of digital assets is accelerating, and with it comes a sharper focus on operational resilience and an increased demand for a safe transition. Working with Taurus underscores how digital asset recovery is now table stakes for traditional finance providers, providing the safety net for embracing digital assets. Working together, we’ll be instilling confidence and assurance for institutions so that they can more effectively seize the opportunities presented by digital assets.”
The integration links CoinCover’s Recover for Institutions with Taurus-PROTECT, its on-premise deployment of wallet technology, enabling its clients to securely manage and back-up their digital asset keys with CoinCover, while keeping Taurus-PROTECT’s banking-grade security in place.
Jean-Philippe Aumasson, CSO at Taurus, said: “CoinCover gives our clients an alternative to bespoke internal processes, with access to established, audited security procedures to store their encrypted back-ups and initiate recoveries. This way, our clients now only have to manage a single passphrase rather than multiple keys, while still being able to take advantage of the security guarantees of Taurus-PROTECT. This reinforces our promise to enable banks and financial institutions access digital assets with the same security as traditional assets.”
