AnchorWatch launches Nevada-chartered Bitcoin custodian with fixed-fee pricing

AnchorWatch Trust Company opened Oct. 19 as a Nevada state-chartered qualified custodian for Bitcoin, targeting fiduciaries, public companies and high-net-worth clients. The launch pairs multi-institution custody options with fixed-dollar fees capped at $10,000 a month and optional insurance issued in the customer’s name.

Why it matters: - AnchorWatch Trust Company gives Bitcoin holders a state-chartered qualified custodian option in Nevada. - The launch is aimed at clients that need qualified custody, including fiduciaries, public companies, trusts and high-net-worth individuals. - The fixed-fee model is designed to avoid percentage-of-assets pricing that rises as Bitcoin appreciates. - For large enterprises, the company says the cap could create potential six- or seven-figure annual savings.

What happened: - AnchorWatch announced that AnchorWatch Trust Company opened Oct. 19 as a Nevada state-chartered trust company and qualified custodian. - The Nevada Financial Institutions Division authorized AnchorWatch Trust Company to act as a custodian. - The company positioned the launch around qualified Bitcoin custody for institutional and individual clients.

The details: - Clients can use a flagship custody structure where AnchorWatch Trust Company holds the keys required for qualified custody while trustees or executives hold additional keys. - Clients can also choose a multi-institution model that distributes key control across AnchorWatch Trust Company, BitGo in the U.S. and CoinCorner in the Isle of Man. - Optional insurance is available in the customer’s or entity’s name. - The insurance is backed by A+ rated Lloyd’s of London syndicates. - As a Lloyd’s Coverholder, AnchorWatch has authority to write up to $370 million in limit per AnchorWatch Trust Company client. - The coverage is designed for loss of Bitcoin tied to perils including violent coercion, kidnappings and fraudulent acts by AnchorWatch that result in a loss. - Coverage remains subject to underwriting approval and all policy terms, conditions, limits and exclusions. - Insurance is available to U.S.-domiciled companies, U.S.-domiciled subsidiaries and U.S.-residing individuals. - Custody without insurance may be available in a broader range of jurisdictions, subject to eligibility, onboarding and KYC/KYB/AML requirements. - Annual custody fees are fixed-dollar amounts, tiered by vault size, with a monthly cap of $10,000. - Bitcoin purchases or appreciation above the cap do not increase the annual custody fee.

Between the lines: - The pricing structure stands out because many qualified custodians charge based on assets under custody, which makes costs rise with Bitcoin’s value. - AnchorWatch is using custody, insurance and distributed key management as a single package to appeal to both institutions and individuals. - The company is signaling a focus on operational credibility by citing audits, reviews and regulatory approvals. - Trident Vault has secured customer Bitcoin for 20 months and has been audited or reviewed by Halborn, Doyensec and Lloyd’s technical underwriters. - AnchorWatch completed a SOC 2 examination. - AnchorWatch is licensed to distribute surplus lines insurance policies in each state where it operates. - The Nevada Financial Institutions Division completed due diligence before granting custody authority.

What's next: - AnchorWatch said qualified custody is now available through the new trust company. - Eligible clients can pursue either custody model and, where available, apply for insurance coverage. - AnchorWatch directs prospective customers to learn more.

The bottom line: - AnchorWatch is trying to make Bitcoin custody more predictable for institutions by pairing qualified custody with capped fixed pricing and optional insurance.