On Tuesday, the bitcoin and Lightning services firm Coincorner introduced the launch of a product called Vault, a bitcoin storage service offering multi-signature security in partnership with the custody company Anchorwatch, with “insurance underwritten by Lloyd’s of London, covering loss of keys and unauthorised access.”
Coincorner, Anchorwatch Roll out Bitcoin Custody With Lloyd’s Insurance
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Key Takeaways
- Coincorner rolled out Vault on Sept. 8, giving bitcoin holders an insured custody option.
- Anchorwatch’s security pitch lands after Coldcard users were hit for nearly 2,000 BTC.
- Coincorner’s Vault costs 1.5% a year, betting some bitcoiners will trade self-custody for insurance.
Coincorner Launches Vault With Multi-Signature Bitcoin Security
Anchorwatch and Coincorner, alongside Bitgo teamed up in July and revealed “multi-institution custody” and Anchorwatch CEO Rob Hamilton said it was built on the firm’s “Trident Vault infrastructure.” On Sept. 8, Coincorner introduced a product called “Vault” which is essentially called a “multi-signature, multi-jurisdiction, multi-institutional, insured bitcoin custody service.”
On Tuesday, the company took to the social media platform X and announced the launch, stating: “Introducing Vault – a new way to store your bitcoin. Built in partnership with Anchorwatch and designed to give you institutional-grade security from your Coincorner account.” The company added that Vault is “available now for Coincorner customers.”
Hacks and Losses Push Bitcoin Security Into the Spotlight
The news comes as the crypto community has witnessed a litany of hacks, losses, and even wrench attacks over the last eight months of 2026. Bitcoiners were especially shaken when hardware wallets made by Coldcard were compromised and close to 2,000 BTC was siphoned from innocent victims. Hacks, bugs, data breaches and many other security issues have been a tough pill to swallow.
Some bitcoin users have been turning to different security setups and even centralized custody solutions. In terms of the new Vault solution, Becca Rubenfeld, COO at Anchorwatch, told Bitcoin.com News that Vault is the kind of security normally associated with big institutions.
“This is what secure bitcoin custody should look like: multi-signature keys split across independent companies’ jurisdictions, insured by A+ rated Lloyd’s of London, and simple enough for anyone to use. With Vault, Coincorner is making institutional-grade protection something every bitcoin owner can actually have,” Rubenfeld said.
Vault Pairs Insured Storage With Anytime Bitcoin Withdrawals
As far as how Vault works, customers basically put whatever amount of bitcoin they want into Vault, where it is moved to an insured wallet and can be tracked publicly on the Bitcoin blockchain. They can add more bitcoin whenever they want and withdraw it at any time, although withdrawals come with a small onchain transaction fee.
The main cost is 1.5% per year, charged monthly based on the value of the bitcoin stored in Vault at the start of each month. The Lloyd’s insurance seems to be one of the biggest selling points of the product, but also multi-signature security. “Thrilled to be working with Coincorner to offer insurance for their bitcoin in cold storage,” Anchorwatch’s CEO said on X. “For the first time, individuals can get access to a Lloyd’s of London policy for their bitcoin at an exchange.”
Vault may not appeal to self-custody purists because it requires trusting third parties, but for less technical users, high-net-worth individuals, and larger entities, its insurance and multi-party security may entice them.
