AnchorWatch, a firm specializing in Bitcoin custody and insurance, has announced the opening of its Nevada-chartered trust company, which is now officially operational. This new service provides qualified custody solutions for various entities, including fiduciaries, public companies, trusts, and high-net-worth individuals.

Authorized by the Nevada Financial Institutions Division, the AnchorWatch Trust Company (ATC) is focused on catering to an expanding market of public companies that are increasingly adding Bitcoin to their statements. The rise in interest from corporates highlights the demand for qualified custody services tailored to this digital asset.

JUST IN: AnchorWatch Trust Company launches a Bitcoin custody service with up to $370 million in insurance per client 🚀

“Its clients include fiduciaries, public companies, trusts, and high-net-worth individuals requiring qualified bitcoin custody.” — The Block
pic.twitter.com/sxGL36ee7I

Unique Pricing Structure

One of the standout features of ATC’s service is its innovative pricing model, which consists of fixed annual fees that are tiered according to the size of the vault. This fee structure is capped at $10,000 per month, contrasting sharply with the percentage-based fees commonly found among traditional custodians. This pricing strategy is expected to yield significant savings for large enterprises where potential annual savings could reach six to seven figures.

Custody Models Offered

AnchorWatch offers clients a choice between two distinct custody models:

• Flagship Custody: In this model, AnchorWatch holds the necessary keys for qualified custody, while the client maintains additional keys, creating a layered security protocol.
• Multi-Institution Custody: This approach distributes key control among three entities, including AnchorWatch, BitGo in the U.S., and CoinCorner in the Isle of Man, addressing growing concerns regarding concentration risk in traditional single-entity custody solutions.

Insurance Coverage Options

Clients of AnchorWatch can also apply for tailored insurance policies issued under their names. This arrangement contrasts with typical custodians, where policies might be held under the custodian’s name, potentially creating ambiguities regarding claims. Insurance is underwritten by Lloyd’s of London syndicates, allowing AnchorWatch to provide coverage limits up to $370 million per client, protecting against various threats, including coercion, kidnapping, and internal fraud.

Insurance options are available for U.S.-based companies and residents, while custody services without insurance might extend to a broader range of jurisdictions, subject to Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations.

Secure Custody Platform

The custody infrastructure backing AnchorWatch’s services, known as Trident Vault, has successfully secured customer Bitcoin for the past 20 months. This platform has undergone audits and evaluations by security firms such as Halborn and Doyensec, as well as technical reviews from the Lloyd’s syndicates that support their insurance offerings.

As a Bitcoin-native insurance and custody provider, AnchorWatch aims to enhance the safety and reliability of Bitcoin investments, particularly for institutional investors navigating the complexities of digital asset management.