Coincover

Based in Wales, UK, Digital Asset Services Ltd trading as Coincover delivers digital asset security solutions, specializing in protecting cryptocurrency transactions and safeguarding digital assets against threats, ensuring peace of mind for clients in the evolving crypto landscape. Coincover was founded in 2018 and operates from Wales, UK, providing services focused on the cryptocurrency sector. Coincover was co‑founded by David Janczewski and Adam Smith. In February 2023, Coincover raised USD 30 million in venture funding led by new investor Foundation Capital.

Coincover specializes in providing innovative security solutions for the cryptocurrency sector, focusing on safeguarding digital assets and ensuring secure transactions. Their core offerings include the CoinCover Protect service, which employs real-time monitoring and advanced risk screening to protect wallets and transactions from potential threats, including malicious wallets and suspicious activities. The CoinCover Recover suite is designed to assist institutions in quickly regaining access to lost crypto assets, providing peace of mind through expert recovery services available 24/7. Coincover's services cater to various clients, including exchanges, custody services, and wallet providers, ensuring coverage for major cryptocurrencies like Bitcoin (BTC), Ether (ETH), and ERC-20 tokens.

Their geographical reach extends globally, with solutions available wherever clients and regulators operate, excluding sanctioned countries. Coincover generates revenue through its subscription-based model, offering tailored services to businesses operating within the cryptocurrency landscape. Clients typically engage with Coincover for ongoing protection services, which may involve monthly or annual subscription fees based on the level of coverage and specific services utilized. The flagship CoinCover Protect and Recover services serve as key revenue drivers, appealing primarily to B2B clients such as cryptocurrency exchanges and institutional investors.

The structure of transactions within this business involves service contracts that define the terms of protection and recovery, thereby reinforcing the company's commitment to securing digital assets. This model ensures that clients receive comprehensive and customized solutions to meet their unique security needs in the evolving crypto market. The company will use the February 2023 funding towards hiring, product updates and pursuing partnerships.