AnchorWatch Trust Company Launches Bitcoin Custody Service With $370 Million Insurance Per Client
(3 hours ago) · 1 source · Summarized by CryptoBipto
AnchorWatch Trust Company has launched a bitcoin custody service that offers up to $370 million in insurance coverage per client. The service is aimed at institutional and high-net-worth holders seeking insured storage for their bitcoin holdings.
WHY IT MATTERS
When you own bitcoin, you need a safe place to store it, much like keeping valuables in a bank vault. A custody service is a company that stores your crypto assets on your behalf using advanced security measures. One major concern for large holders has been that if something goes wrong — such as a hack or theft — there has been limited insurance available to cover losses. AnchorWatch says it is offering up to $370 million in insurance per client, which, if the coverage works as described, could address one of the biggest worries institutional investors have about holding bitcoin. Think of it like a storage facility that not only has strong locks but also carries a large insurance policy in case something still goes wrong.
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- theblock.co
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