AnchorWatch Trust Company has launched a new Bitcoin custody service in Nevada, designed to enhance security and flexibility for cryptocurrency holders. According to the results published in the material, this innovative offering allows clients to maintain a degree of control over their assets while benefiting from professional custody solutions.
Key Control Structures in Custody Service
The custody service features various key control structures, enabling clients to retain additional signing authority while AnchorWatch manages the keys necessary for custody. This dual-control approach aims to mitigate risks associated with centralized decision-making in cryptocurrency management.
Insurance Coverage Options
In addition to the custody solutions, eligible customers have the option to apply for insurance coverage backed by Lloyd's of London syndicates. This insurance can provide coverage limits of up to $370 million per client, contingent upon underwriting approval, thereby offering an added layer of security for high-value Bitcoin holdings.
Decentralized and Secure Custody Approach
Overall, AnchorWatch's service is designed to provide regulated custody controls that do not concentrate every signing decision within a single institution, promoting a more decentralized and secure approach to cryptocurrency custody.
Recently, Winklevoss Asset Services filed an S-1 registration statement with the SEC for a proposed Zcash ETF, marking a significant development in the cryptocurrency market. This initiative contrasts with AnchorWatch's new Bitcoin custody service, highlighting the evolving landscape of crypto investment options. Read more.
