CoinCorner Brings Insured Bitcoin Custody to UK Customers

CoinCorner has launched insured Bitcoin custody for eligible UK customers, built on AnchorWatch’s Trident Vault and with coverage underwritten by certain underwriters at Lloyd’s.

The service is designed to give customers a different way to secure their Bitcoin without requiring them to hold a seed phrase or manage a hardware device themselves.

Each insured vault is controlled by two separate companies. CoinCorner holds one set of keys and AnchorWatch holds the other. Both parties are required to sign before any Bitcoin can move. This is not simply an internal policy or operating procedure. The signing requirement is enforced directly by the Bitcoin network through the vault’s underlying structure.

Customer funds are also kept separate. Rather than remaining in CoinCorner’s pooled exchange account, Bitcoin moved into insured custody is transferred to a dedicated address for that individual customer. The insurance coverage is written against that specific address, giving customers a clear and verifiable link between their Bitcoin and the insured vault. Customers can independently check their address and holdings on the Bitcoin network.

Withdrawals are restricted to one pre-agreed destination address. Bitcoin cannot be sent elsewhere without changing the vault arrangement.

There is also a human verification layer before AnchorWatch co-signs a withdrawal. Two of six named CoinCorner key managers must confirm the month’s withdrawals on camera from CoinCorner’s boardroom before AnchorWatch will provide its signature.

CoinCorner is a British Bitcoin exchange registered in the Isle of Man and has been operating since 2014. AnchorWatch is a Lloyd’s of London coverholder focused on insured Bitcoin custody.

Insured custody is now available to eligible CoinCorner customers in the UK. Existing customers can opt in directly from their CoinCorner account and move Bitcoin from CoinCorner’s pooled exchange account into a dedicated insured vault of their own.

If you are a CoinCorner customer and want to add insured custody to your account, log in to CoinCorner to learn more and get started.

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