Coincover partners with Cobo to provide third-party private key disaster recovery services for its MPC custody solution

Coincover, a British digital asset security service company, has reached a cooperation with Cobo, a digital asset custody technology service platform, to become a third-party private key disaster recovery service partner of Cobo's MPC custody solution. Cobo adopts multi-party computing threshold signature technology (MPC-TSS)-based co-management hosting scheme, providing 3-2 signed co-management configuration. In this scheme, Cobo and the client each manage a private key shard. An independent third party selected by the customer keeps a private key fragment, and can assist in providing private key recovery services in extreme cases where one of the other two private keys cannot be used. Coincover was founded in 2018. Its founders have a background in the Royal Mint and just completed a new round of financing of US$30 million on February 9.