Wednesday, May 27, 2020

Civic and Coincover Announce the First-of-its-Kind Crypto Wallet With a $1 Million Protection Guarantee

Civic Wallet, protected by Coincover, is Multisig and Non-Custodial, Giving Users More Control When Storing and Transacting With Digital Currency

SAN FRANCISCO & CARDIFF, Wales–(BUSINESS WIRE)–Civic Technologies, a leading innovator in digital wallet solutions, today announced that Civic Wallet is the first and only non-custodial crypto wallet to offer a $1 million (USD) digital currency guarantee provided by Coincover, the leader in high security, risk prevention and mitigation solutions, insured by Lloyd’s of London underwriters. Civic Wallet is currently in private beta.

“We believe that everyone needs access to a neutral, trustworthy place to store their digital currency, especially in this extraordinary new financial climate. People are looking to move their digital currency so that they have more control and reliable, easy restoration if they ever lose access to their funds,” said Vinny Lingham, CEO and co-founder of Civic. “Together with Coincover, we’re now ensuring that Civic Wallet users have this unique protection.”

The Coincover Cryptocurrency Protection Guarantee covers all Civic Wallet customer holdings up to a value of $1 million per wallet. This protection comes automatically when signing up for Civic Wallet, and there are no extra steps users must take to be eligible.

“Protection for consumer level cryptocurrency is long overdue. This collaboration reflects the tremendous progress Coincover has made in bringing safety, trust, transparency and accessibility to the market for consumers,” said Coincover CEO, David Janczewski.

The Coincover and Civic alliance and Cryptocurrency Protection Guarantee represent continuous efforts from both Coincover and Civic to provide consumers with peace of mind as they enter into the crypto space in greater numbers. The timing couldn’t be more apt. The world economy is shifting rapidly, and governments have taken emergency measures to stabilize global markets, including cutting the interest rates to nearly zero. For crypto holders navigating economic turbulence, a Civic Wallet with a Coincover Cryptocurrency Protection Guarantee provides an additional layer of protection.

Civic Wallet offers a safe way for people around the world to store and transact with digital currency. With the inaugural Civic Wallet, users may onboard, store and buy digital currencies, including USDC, Bitcoin and Ethereum directly in the app with a bank account.* Users may also send crypto and money to friends and family easily with low fees via usernames or addresses to third party blockchain wallets. In the event a user loses their phone or otherwise cannot open their wallet, digital wallet recovery is simple and intuitive.

Civic is offering its private beta to its list of pre-registered users in a phased rollout. The company will be announcing new features and capacities in future versions of the product with easy referrals to friends around the world.

To join the Civic Wallet waitlist, please visit: https://www.civic.com/

* Buying cryptocurrencies in the following states is currently not supported for licensing reasons: Connecticut, Hawaii, New Hampshire, New York, North Carolina, Vermont, and Virginia.

About Civic

Civic enables consumers to securely send and receive money, including cryptocurrencies, around the world. Civic Wallet, a non-custodial digital wallet for consumers, provides a seamless way to transact. Civic uses identity.com’s open-source, blockchain-based ecosystem to verify credentials. Civic was co-founded in 2015 by serial entrepreneurs Vinny Lingham and Jonathan Smith.

About Coincover

Coincover was founded in 2018 in Cardiff with the aim of making owning cryptocurrency safer and more accessible. It is the first and only service to guarantee digital funds will not be lost or stolen. By combining insurance developed in partnership with Lloyd’s of London underwriters with the latest security features, Coincover significantly reduces risk and makes digital currency investments simple, safe and secure for retail and business customers across the world.

Contacts

Becca Youngs, Civic

[email protected]
+1 (415) 295-5419

Sharon Henley, Coincover

[email protected]

(c)2018 Business Wire Inc., All rights reserved.
Original Release: Business Wire

Latest News

Brazilian Retailer Eyes Services for the Unbanked With Acquisition of FinTech Firm Airfox

Via Varejo snapped up the Boston-based firm to further its aim of providing financial services to millions of unbanked...