It’s common for many organizations to postpone establishing a robust Disaster Recovery Program  until after their product is already in the market. While development and operational builds are critical for launching an outstanding product, disaster recovery planning often gets sidelined. However, it’s increasingly important for institutions to prioritize the safekeeping of private key materials, which are crucial for accessing and managing digital assets. Their loss or compromise can have severe consequences. As the saying goes, “not your keys, not your crypto,” which instills fear in those who hear it. Therefore, addressing disaster recovery early is crucial to ensure your operations can withstand any disruptions.

The Importance of a Robust Disaster Recovery Plan

A robust disaster recovery plan is essential for several reasons:

• Financial Protection: Minimize potential financial loss by ensuring key materials are quickly restored after unexpected events.
• Reputation Management: Demonstrate your commitment to security and protect your clients’ assets to maintain your reputation.
• Regulatory Compliance: Stay ahead by complying with regulations that require disaster recovery plans, avoiding fines and other penalties.
• Business continuity: Ensure that your business remains fully operational even in the face of unexpected disruptions.

Fireblocks’ Proactive Approach to Disaster Recovery

Fireblocks understands the importance of disaster recovery in safeguarding digital assets and ensuring business continuity. As a leader in our industry, Fireblocks recognizes this critical need which is why we are proactively offering disaster recovery as a standard feature for all customers. We believe in the importance of establishing DRS as an industry standard as it reduces the overall risk within the broader Digital Asset Ecosystem.

Flexible DRS Offerings

Fireblocks offers a range of Backup and DRS solutions to accommodate diverse customer needs, beginning with DIY self storage and budget-friendly starter package options that guarantee basic coverage for all platform users. Customers will have the option to scale up for advanced DRS packages with premium features, such as secure wallet account transfer, derivation patch backup and enhanced SLAs, offering flexibility and choice.

Building on a decade of crypto security experience, Station70 believes in building The Security Backbone for Web3.  Making digital asset protection seamless, resilient, and future-proof. As the only institutional-grade backup and disaster recovery solution—underscored by third-party audits and penetration tests, Station70 uses industry-leading technology and secure customer-driven hardware-enforced quorums. Our industry-first features include secondary wallet provider integrations for secure account failover, derivation path backup, customer configurable security policies, and multi-jurisdictional hosting. By partnering with Fireblocks, we are raising the standard for disaster recovery, keeping trust and safety at the forefront.

Founders of the crypto wallet key backup category in 2018, CoinCover protects over 500 of the industry’s largest institutions, and tens of thousands of their customers. Our long-standing partnership with Fireblocks brings their own customers into the largest protected community in blockchain, enabling them to rely on battle-tested disaster recovery for their wallets and driving the next wave of blockchain adoption.