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AnchorWatch Launches Nevada Trust Company, Caps Bitcoin Custody Fees at $10,000 a Month
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AnchorWatch’s AnchorWatch Trust Company has now opened its custody service.
Key facts
- As a Lloyd’s of London Coverholder, AnchorWatch says it has authority to write up to $370 million in limits per ATC client, covering loss of Bitcoin from perils including violent coercion
- AnchorWatch’s underlying custody platform, Trident Vault, has secured customer Bitcoin for 20 months, according to the company
- The company’s flagship differentiator is pricing: fixed-dollar annual fees tiered by vault size, capped at $10,000 per month, rather than the percentage-of-assets charges typical among qualified
- AnchorWatch Trust Company, authorized by the Nevada Financial Institutions Division to act as a custodian, opened on Monday, according to AnchorWatch
Summary
Bitcoin custody and insurance firm AnchorWatch has said that its Nevada state-chartered trust company opened for business, offering qualified custody for fiduciaries, public companies, trusts and high-net-worth individuals. AnchorWatch Trust Company, authorized by the Nevada Financial Institutions Division to act as a custodian, opened on Monday, according to AnchorWatch. The service is aimed at public companies holding BTC, a category that has expanded sharply as more corporations have added the asset to their balance sheets. The company’s flagship differentiator is pricing: fixed-dollar annual fees tiered by vault size, capped at $10,000 per month, rather than the percentage-of-assets charges typical among qualified custodians. “For large enterprises, the pricing cap will translate to potential six- or seven-figure annual savings for qualified custody,” the company said in its announcement.