AnchorWatch Trust Company launches bitcoin custody service with up to $370 million in insurance per client

AnchorWatch Trust Company opened Monday as a Nevada-chartered qualified bitcoin custodian with fixed-dollar custody pricing capped at $10,000 per month and optional insurance coverage of up to $370 million per client.

In a statement shared with The Block, the company said the Nevada Financial Institutions Division had authorized it to provide custody services. Its clients include fiduciaries, public companies, trusts, and high-net-worth individuals requiring qualified bitcoin custody.

AnchorWatch Trust Company offers two custody options. Under its flagship model, ATC holds the keys required for qualified custody, while clients, trustees, or executives can hold additional keys. The other model distributes key control among ATC, BitGo in the U.S., and CoinCorner in the Isle of Man, according to the statement.

The company said it charges fixed-dollar fees based on vault size rather than a percentage of assets under custody. Once a client's monthly fee reaches $10,000, additional bitcoin purchases or an increase in the value of existing holdings will not raise the custody charge, it added.

AnchorWatch also offers optional insurance backed by A+ rated Lloyd's of London syndicates. The company said it has authority to write policies with limits of up to $370 million per ATC client, subject to underwriting approval, with policies issued in the customer's or entity's name.

The insurance can cover losses arising from several risks, including violent coercion and kidnapping. It can also cover fraudulent conduct by AnchorWatch resulting in a bitcoin loss, subject to underwriting approval, policy limits, and other terms, the company said.