CoinCorner, AnchorWatch offer Lloyd’s-insured Bitcoin custody

CoinCorner and AnchorWatch have launched a bitcoin custody service insured by a policy placed at Lloyd’s of London. The service provides insured storage for bitcoin held on CoinCorner’s platform.

CoinCorner integrates the custody offering into its existing platform. AnchorWatch manages technical security and arranged the insurance placement at Lloyd’s. The insurance covers losses that meet the policy’s terms and conditions.

Custody operations, key management procedures and access controls remain the responsibility of CoinCorner and any operational roles assigned to AnchorWatch under their service agreement. Claims will be processed according to the policy’s coverage terms, exclusions and any deductibles set by Lloyd’s underwriters.

The service is available to retail customers and institutional clients who use CoinCorner and choose insured storage. AnchorWatch will conduct ongoing risk assessments and communicate any operational requirements that are conditions of coverage.

The companies did not disclose policy limits, premium amounts, specific exclusions or the identity of the Lloyd’s underwriters at launch. They said further details will be provided to prospective customers and counterparties.

The launch follows a trend of cryptocurrency platforms and third-party custodians seeking traditional insurance to address theft, loss of private keys and operational failures. Lloyd’s of London has been used to underwrite policies for digital-asset custody and cyber-related exposures.