Home›Crypto›Regulation›CoinCorner launches Lloyd’s-insured multisig Bitcoin c…

CoinCorner launches Lloyd’s-insured multisig Bitcoin custody vault

The vault service charges 1.5% annually and moves insured holdings on the first working day of the following month after customers deposit.

Reported · Written up by our desk · Regulation

British bitcoin exchange CoinCorner has launched a multisig BTC custody service that splits control of customer keys between the Isle of Man exchange and its US partner AnchorWatch, with holdings insured by Lloyd’s of London, according to Bitcoin Magazine.

The service is priced at 1.5% per year and is designed for customers who want cold-storage security without managing hardware themselves. CoinCorner said customers can open a Vault and deposit any amount, but the bitcoin does not move into the insured wallet immediately.

CoinCorner and AnchorWatch said transfers typically occur on the first working day of the following month, and that holdings are verifiable on-chain via a wallet address the company provides. Customers can also top up at any time.

The launch comes after the Coldcard wallet hack, where bitcoin holders using a single signature wallet reportedly lost funds after hackers exploited a firmware bug tied to weak seed generation. Bitcoin Magazine reports that about $115 million was lost in that theft.

Latest closeBitcoin $78,435.20 ▼0.9%

More like this

Sources