$LCLP Life Clips Subsidiary Belfrics Selects Coincover Technology To Secure Its Customer’s Crypto Assets
https://www.globenewswire.com/news-release/20...ssets.html
AVENTURA, Fla., Dec. 02, 2021 (GLOBE NEWSWIRE) -- Life Clips, Inc. (OTC Pink: LCLP) (the “Company”), announced today that Belfrics India has selected Coincover’s Consumer Protect technology to help safeguard its client’s crypto assets. Belfrics is a global blockchain and cryptocurrency exchange firm. Its multi-feature trading platform for digital assets and cryptocurrencies includes Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Litecoin (LTC), Bitcoin Cash (BCH) and Belrium (BEL) among others. Founded in 2014, Belfrics is headquartered in Malaysia and operates in seven countries, including India. Coincover is the world’s first provider of protection for cryptocurrency.
According to recent data by TripleA, India now has the largest number of crypto owners in the world with over 100 million owning cryptocurrencies, or 7.3% of the populationi. Demand continues to grow as more Indians are working for overseas companies and are choosing to be paid in crypto over traditional currencies because of the ease of conducting international transfers and lower transaction fees compared to bank transfers. The total volume of crypto transactions in India has increased by 30% in the last year. ii
Coincover Consumer Protect is an insurance-backed guarantee that protects crypto investors against hacks, scams, theft, malware, phishing and brute force attacks. The Consumer Protect technology monitors and limits customer transactions to help prevent malicious activity and is backed by insurance from Lloyd’s of London in case of loss.
“We are very excited to help Belfrics protect their customer’s crypto investments,” said David Janczewski, co-founder and CEO at Coincover. “Our technology provides peace of mind for investors and will enable Belfrics to stand out amongst their competitors in India.”
Research shows that the demand for crypto and blockchain technology will continue to grow over the next three years, with the market estimated to grow exponentially from $3 billion USD in 2020 to $39.7 billion USD in 2025. Blockchain technology will also continue to provide value-add to businesses (primarily in the finance, private, healthcare and retail sectors) by an estimated $3.1 trillion USD by 2030.
“We are very excited to help Belfrics protect their customer’s crypto investments. Our technology provides peace of mind for investors and regulators alike, and will enable Belfrics to attract new customers to crypto,” said David Janczewski, CEO at Coincover. “Global growth has been phenomenal in the past 18 months and Coincover is helping investors enter this high-growth market by mitigating risk and improving insight.”
Praveen Kumar, founder & CEO at Belfrics Global, said, “Crypto continues to gain acceptance globally and adoption is accelerating in India. With 1.38 billion people, India holds the potential for significant growth in the next few years. Coincover enables us to better attract potential crypto investors by reducing uncertainty and risk. We believe this reassurance will draw a whole new category of investors to cryptocurrency in India.”
One of the primary concerns among investors is to make sure their assets are protected on the platform. Like other financial institutions, regulated exchanges are required to segregate clients’ and firms’ assets. Clients’ assets including digital assets are stored on separate accounts and wallets, under an associated entity, owned by the exchange.
Life Clips CEO Robert Grinberg said, “Assets such as cash, bonds or stocks are usually held by third-party custodian’s such as a bank. However, this is not the case for digital assets. Crypto such as Bitcoin, Ethereum, and Belrium are much different from traditional assets. They are built on blockchains and managed through private keys. The protection of our clients' assets will always be one of our top priorities. This agreement with Coincover Technology provides Belfrics’ customers with an extra layer of protection."
https://www.globenewswire.com/news-release/20...ssets.html
AVENTURA, Fla., Dec. 02, 2021 (GLOBE NEWSWIRE) -- Life Clips, Inc. (OTC Pink: LCLP) (the “Company”), announced today that Belfrics India has selected Coincover’s Consumer Protect technology to help safeguard its client’s crypto assets. Belfrics is a global blockchain and cryptocurrency exchange firm. Its multi-feature trading platform for digital assets and cryptocurrencies includes Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Litecoin (LTC), Bitcoin Cash (BCH) and Belrium (BEL) among others. Founded in 2014, Belfrics is headquartered in Malaysia and operates in seven countries, including India. Coincover is the world’s first provider of protection for cryptocurrency.
According to recent data by TripleA, India now has the largest number of crypto owners in the world with over 100 million owning cryptocurrencies, or 7.3% of the populationi. Demand continues to grow as more Indians are working for overseas companies and are choosing to be paid in crypto over traditional currencies because of the ease of conducting international transfers and lower transaction fees compared to bank transfers. The total volume of crypto transactions in India has increased by 30% in the last year. ii
Coincover Consumer Protect is an insurance-backed guarantee that protects crypto investors against hacks, scams, theft, malware, phishing and brute force attacks. The Consumer Protect technology monitors and limits customer transactions to help prevent malicious activity and is backed by insurance from Lloyd’s of London in case of loss.
“We are very excited to help Belfrics protect their customer’s crypto investments,” said David Janczewski, co-founder and CEO at Coincover. “Our technology provides peace of mind for investors and will enable Belfrics to stand out amongst their competitors in India.”
Research shows that the demand for crypto and blockchain technology will continue to grow over the next three years, with the market estimated to grow exponentially from $3 billion USD in 2020 to $39.7 billion USD in 2025. Blockchain technology will also continue to provide value-add to businesses (primarily in the finance, private, healthcare and retail sectors) by an estimated $3.1 trillion USD by 2030.
“We are very excited to help Belfrics protect their customer’s crypto investments. Our technology provides peace of mind for investors and regulators alike, and will enable Belfrics to attract new customers to crypto,” said David Janczewski, CEO at Coincover. “Global growth has been phenomenal in the past 18 months and Coincover is helping investors enter this high-growth market by mitigating risk and improving insight.”
Praveen Kumar, founder & CEO at Belfrics Global, said, “Crypto continues to gain acceptance globally and adoption is accelerating in India. With 1.38 billion people, India holds the potential for significant growth in the next few years. Coincover enables us to better attract potential crypto investors by reducing uncertainty and risk. We believe this reassurance will draw a whole new category of investors to cryptocurrency in India.”
One of the primary concerns among investors is to make sure their assets are protected on the platform. Like other financial institutions, regulated exchanges are required to segregate clients’ and firms’ assets. Clients’ assets including digital assets are stored on separate accounts and wallets, under an associated entity, owned by the exchange.
Life Clips CEO Robert Grinberg said, “Assets such as cash, bonds or stocks are usually held by third-party custodian’s such as a bank. However, this is not the case for digital assets. Crypto such as Bitcoin, Ethereum, and Belrium are much different from traditional assets. They are built on blockchains and managed through private keys. The protection of our clients' assets will always be one of our top priorities. This agreement with Coincover Technology provides Belfrics’ customers with an extra layer of protection."
