Life Clips Subsidiary Belfrics Selects Coincover Technology To Secure Its Customer’s Crypto Assets

100 million Indians own crypto, the largest number of crypto owners in the world

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.”