NASHVILLE, Tenn.--(BUSINESS WIRE)--AnchorWatch, a pioneering insurance provider specializing in bitcoin custody, proudly announces its designation as a Lloyd’s of London Coverholder. This milestone solidifies AnchorWatch’s position as a leader in the emerging market of insured bitcoin custody solutions. The company will officially open for business in December 2024 with binding authority of up to $100M per customer, helping to secure the wealth of American retail and institutional investors.
Lloyd’s of London, renowned for its centuries-long tradition of underwriting complex and innovative risks, operates through a network of Coverholders—trusted partners authorized to underwrite policies on behalf of Lloyd’s syndicates. This designation signifies AnchorWatch’s adherence to Lloyd’s rigorous standards of compliance, governance and operational excellence, ensuring customers receive world-class insurance solutions backed by the most respected name in the industry.
About AnchorWatch
AnchorWatch has redefined bitcoin custody with its proprietary Trident Vault software. Trident Vault leverages Bitcoin’s smart contracting language to unlock features not seen in other enterprise bitcoin custody solutions. This includes the use of timelocks, multiple spending conditions and multiple multisig quorums, enabling robust security and enforcement of compliance and governance facilitated at the level of the Bitcoin protocol. By embedding regulated insurance directly into their custody technology, AnchorWatch offers a comprehensive solution that reduces risks associated with theft, kidnappings, catastrophic events and fraud.
AnchorWatch caters to a diverse clientele, including individuals, family trusts, family offices, institutional investors, Bitcoin miners, and companies with bitcoin treasuries. The company’s focus on security has positioned it as a trusted partner for those navigating the complexities and risks of bitcoin ownership and custody.
Cofounder and CEO Rob Hamilton said, “For over a decade, enterprise bitcoin custody has been constrained by legacy multisig and MPC technology, even as bitcoin’s value has surged by over 30,000%. We are proud to be at the forefront of transforming bitcoin custody with Trident Vault’s advanced security features and its pairing with coverage from Lloyd’s of London syndicates. Until now, individuals and businesses faced the difficult choice between uninsured custody or third-party policies, often valued at mere fractions of a cent per dollar in custody. AnchorWatch changes the game by providing true, insured bitcoin custody."
The Significance of Lloyd’s Coverholder Status
As a Lloyd’s of London Coverholder, AnchorWatch is now empowered to underwrite policies written on AM Best A+ rated Lloyd’s of London paper and with capital provided by Lloyd’s syndicates. This gives customers unparalleled confidence in the reliability of their insurance, and are the first policies designed to allow customers to be insured up to the total value of the bitcoin held in custody without requiring that they give up their keys. AnchorWatch’s binding authority granted as a Coverholder not only enhances AnchorWatch’s operational capabilities but also validates its innovative approach to bitcoin custody and insurance.
The Coverholder designation underscores AnchorWatch’s commitment to excellence and ensures that its customers benefit from the global reputation and financial strength of Lloyd’s of London. This partnership further solidifies AnchorWatch’s mission to make bitcoin ownership practical, secure, and verifiable for institutional and retail investors alike.
“Becoming a Lloyd’s Coverholder is a transformative moment for AnchorWatch and the clients we serve,” said Becca Rubenfeld, cofounder of AnchorWatch. “The backing by Lloyd’s of London syndicates allows us to offer the capital guarantee of A+ rated insurance embedded in Trident Vault; together, Lloyd's paper and Trident’s security give our customers deep assurance that their bitcoin is safe. For the first time, customers have easy access to 1-to-1 insurance with their name on the insurance contract. It’s a significant improvement over other insurance products previously available. It’s also the first time retail customers have direct access to bitcoin insurance.”
Open for Business
Starting December 2024, AnchorWatch will begin offering its services to customers, providing insured protection for bitcoin assets and a robust custody solution via Trident Vault. Whether serving individuals, family offices, funds or businesses, AnchorWatch’s innovative solutions aim to secure the wealth of American investors while setting a new standard for custody and insurance in the digital asset space.
AnchorWatch is led by Rob Hamilton and Becca Rubenfeld and is represented in the London insurance market by Mike Richardson. For more information and to enquire about AnchorWatch’s services, please visit www.anchorwatch.com.
