AnchorWatch said AnchorWatch Trust Company (ATC), the company's Nevada state-chartered trust company arm, opened on Monday. ATC offers qualified bitcoin custody for fiduciaries, public companies, trusts and high-net-worth individuals. The Nevada Financial Institutions Division authorized ATC to act as a custodian. AnchorWatch describes itself as a Bitcoin-native insurance and custody company.
The service targets public companies holding BTC, a category that has expanded sharply as more corporations have added bitcoin to corporate balance sheets. ATC charges fixed-dollar annual fees tiered by vault size, capped at $10,000 per month, rather than the percentage-of-assets fees typical among qualified custodians. Additional bitcoin purchases or price appreciation do not increase the annual fee once a client reaches the cap. AnchorWatch said the pricing cap could translate into six- or seven-figure annual savings for large enterprises using qualified custody.
ATC offers two qualified-custody models. Under Flagship Custody, ATC holds the keys required for qualified custody, while the client's trustees or executives hold additional keys. The multi-institution custody model distributes key control across ATC, BitGo in the United States and CoinCorner in the Isle of Man. The multi-institution model addresses institutional bitcoin holders' growing concern about concentration risk at a single custodian, sharpened by past industry failures.
Clients may apply for insurance issued in the covered client's or entity's name. AnchorWatch contrasts this structure with policies held in a custodian's name, whose coverage terms may leave ambiguity about the client's position in a claim. AnchorWatch provides the insurance, backed by A+ rated Lloyd's of London syndicates. AnchorWatch says its authority as a Lloyd's of London Coverholder allows insurance limits of up to $370 million per ATC client. The coverage includes bitcoin losses from violent coercion and kidnapping, as well as losses arising from fraudulent acts by AnchorWatch itself. Coverage is subject to underwriting approval and policy terms.
Insurance is available to U.S.-domiciled companies and subsidiaries and U.S.-resident individuals. Custody without insurance may be available in a broader range of jurisdictions, subject to know-your-customer and anti-money-laundering requirements.
AnchorWatch said the underlying custody platform, Trident Vault, has secured customer bitcoin for 20 months. Security firms Halborn and Doyensec and technical underwriters at the Lloyd's syndicates backing the policies have audited or reviewed Trident Vault.