AnchorWatch Launches Bitcoin Custody Service With Lloyd's-Backed Insurance

WHY IT MATTERS

When you hold Bitcoin, one of the biggest risks is losing access to it — whether through hacking, theft, or technical failure. A custody service is like a secure vault that holds your Bitcoin for you, similar to how a bank holds your money. What makes this announcement notable is the insurance component. Think of it like insuring valuables in a safety deposit box: if something goes wrong, the insurance can help cover the loss. Lloyd's of London is one of the most well-known insurance marketplaces in the world, so its reported involvement could signal growing confidence in offering protections for crypto assets. However, readers should note that the specific details of what the insurance covers and its limitations have not been fully clarified.