Security

Safe partners with Sygnum, CoinCover for crypto recovery

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December 20, 2023

Safe, a smart wallet infrastructure company, partnered with digital asset banking company Sygnum Bank and CoinCover, a recovery service provider, to introduce Safe(RecoveryHub) to help users recover cryptocurrency. With this tool, customers can recover lost cryptocurrency due to forgotten keys, according to a press release.

Safe(RecoveryHub) includes a variety of solutions to meet the needs of individuals and organizations. It utilizes designated recovers such as backup devices, family members, friends and collaborators to help recover lost funds. Users can set up multiple recovers and only give access when they need it to recover cryptocurrency.

"With this solution, rather than face a binary choice between a self-custody or custodial experience, users are empowered to optimize a key recovery solution to fit their personal risk preferences. This user-driven module, where account holders dictate the terms of asset management themselves, is unprecedented both in the crypto industry and traditional finance, marking a new milestone in the path towards financial sovereignty," Lukas Schoar, co-founder of Safe, said in the release.