AnchorWatch Opens Nevada Trust Company With Bitcoin Custody Fees Capped at $10,000 a Month
AnchorWatch, a firm that provides bitcoin custody and insurance, says its Nevada state-chartered trust company has opened for business. The new entity, AnchorWatch Trust Company (ATC), offers qualified custody for fiduciaries, public companies, trusts and wealthy individuals, according to the company.
In crypto, custody means holding and safeguarding someone else's coins, usually by controlling the private keys needed to move them. Qualified custody generally refers to custody provided by a regulated entity, such as a trust company, that institutions are allowed to use.
Trust company authorized in Nevada
AnchorWatch said ATC was authorized by the Nevada Financial Institutions Division to act as a custodian and opened on Monday. The service is aimed at public companies that hold BTC, a group that has grown as more corporations have put the asset on their balance sheets. The announcement was published through EIN Presswire and reported by Bitcoin Magazine.
Fixed fees instead of a share of assets
- ATC charges fixed-dollar annual fees that are tiered by vault size, rather than the percentage-of-assets fees common among qualified custodians.
- Those fees are capped at $10,000 per month. Once a client reaches the cap, the company says, more bitcoin purchases or a rise in bitcoin's price do not increase the annual fee.
- AnchorWatch said the cap could mean potential six- or seven-figure annual savings on qualified custody for large enterprises.
Two ways to hold keys
ATC offers clients two qualified-custody models, according to the company. In the first, called Flagship Custody, ATC holds the keys required for qualified custody while the client's trustees or executives hold additional keys.
The second model spreads key control across three institutions: AnchorWatch Trust Company, BitGo in the United States and CoinCorner in the Isle of Man. AnchorWatch says this multi-institution approach addresses concern among institutional bitcoin holders about relying too heavily on a single custodian, a worry the company links to past industry failures.
Insurance written in the client's name
Clients may also apply for insurance issued in the covered client's or entity's name. AnchorWatch contrasts this with policies held in the custodian's name, where it says coverage terms can leave the client's position in a claim unclear.
The insurance is provided by AnchorWatch and backed by A+ rated Lloyd's of London syndicates. As a Lloyd's of London Coverholder, AnchorWatch says it can write up to $370 million in limits per ATC client. The company says the coverage includes loss of bitcoin from perils such as violent coercion and kidnapping, as well as losses from fraudulent acts by AnchorWatch itself. Coverage depends on underwriting approval and policy terms.
Insurance is available to U.S.-domiciled companies and subsidiaries and to U.S.-resident individuals. Custody without insurance may be available in a broader range of jurisdictions, subject to know-your-customer (KYC) and anti-money-laundering (AML) requirements. KYC and AML are rules that require firms to identify clients and screen for illegal activity.
About the vault behind the service
AnchorWatch says its underlying custody platform, Trident Vault, has secured customer bitcoin for 20 months. The company says it has been audited or reviewed by security firms Halborn and Doyensec, and by the technical underwriters at the Lloyd's syndicates backing the policies. AnchorWatch describes itself as a bitcoin-native insurance and custody company, with ATC as its Nevada state-chartered trust company arm.
What is confirmed
- AnchorWatch says ATC opened on Monday after being authorized by the Nevada Financial Institutions Division to act as a custodian.
- The service targets fiduciaries, public companies, trusts and high-net-worth individuals.
- Fees are fixed-dollar and tiered by vault size, capped at $10,000 per month.
- ATC offers a model where the client holds additional keys, and a model where key control is split across AnchorWatch Trust Company, BitGo and CoinCorner.
- Insurance is backed by Lloyd's of London syndicates, with coverage subject to underwriting approval and policy terms.
What is still unclear
The sources do not give details on how the fee tiers are structured, how many clients ATC has signed, or what total assets it holds. The claims about potential six- or seven-figure savings, the $370 million per-client limit and the 20-month track record come from AnchorWatch itself and were not independently verified in the supplied material.
Why it matters for bitcoin holders
Large holders of bitcoin often need a regulated custodian, and qualified custodians commonly charge fees based on the size of the assets held. A fee that stops growing once it hits a set monthly cap removes a cost that rises with the value of the coins, which the company says is different from standard industry pricing. The three-institution key arrangement and insurance written in the client's name are also presented as answers to two concerns that institutional holders of bitcoin have raised.
Sources
Newisty Editorial Team covers technology, cryptocurrency, digital products, online platforms, developer tools and the wider digital economy. Our content is researched from official sources, company announcements, public documentation, market data and other primary or reputable sources. Articles are reviewed and edited before publication for clarity, accuracy and useful context.