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AnchorWatch, a leading insurer specializing in safeguarding bitcoin holdings for commercial entities, today announced a successful $3 million funding round. The round was led by ten31with notable participation ofbtc Axiom, bitcoin-magazine-2140-venture-fund”>bitcoin Magazine Fund
AnchorWatch’s Trident Vault software represents another innovative solution for bitcoin custody, combining the protocol’s native custody with high-quality regulated insurance coverage. This addresses a critical gap in the bitcoin market, providing greater confidence and security to btc owners.
Trident Vault is a bitcoin vault designed exclusively for commercial use. Streamlines remote team workflows, introduces keyholder seniority, and introduces time-bound spending conditions, thereby improving on-chain compliance and governance.
“bitcoin owners still face the binary choice between self-custody and third-party sole custodians,” said Robert Hamilton, co-founder and CEO of AnchorWatch. “In the case of the latter, high-risk trading strategies or, worse, blatant fraudulent activities have resulted in catastrophic losses for clients. Therefore, they are hesitant to trust the business key holder to provide the promised services. “AnchorWatch makes owning and maintaining the bearer asset convenient, secure, easy, secure and verifiable.”
AnchorWatch achieves collaborative custody through two key mechanisms. First, Trident Vault facilitates assisted escrow by maintaining a minority of keys and implementing governance and compliance at the protocol level. This method improves security by dispersing custody across different physical locations and unrelated entities, mitigating the risks of events such as fire, flood, and theft by internal or external actors.
Second, AnchorWatch incorporates regulated property insurance directly into Trident Vaults. This insurance ensures that assets are protected in the event of catastrophic incidents through regulated and collateralized property insurance. Thanks to Trident’s advanced security, AnchorWatch is able to offer this insurance at competitive prices.
Jonathan Kirkwood, managing partner at Ten31, highlighted the importance of AnchorWatch’s approach: “AnchorWatch is building both the technical infrastructure to advance the potential of bitcoin as programmable money and the accredited legal/financial infrastructure to get bitcoin into the hands of commercial institutions at through their insurance offers. “This is a critical step that directly aligns with our mission at Ten31 to establish bitcoin as a viable asset for institutions and invest in the companies at the forefront of innovation in the ecosystem.”
AnchorWatch serves a wide range of clients including family trusts, funds, pensions, family offices, bitcoin miners and mining pools. Trident Vault is especially valuable for estate and succession planning purposes, serving estate attorneys, investment advisors, and technical advisors who oversee the bitcoin custody needs of multiple clients.
AnchorWatch’s commitment to advancing bitcoin insurance and custody solutions positions them at the forefront of the bitcoin industry, ready to provide much-needed security and peace of mind to bitcoin holders.
