AnchorWatch Secures Nevada Trust Charter to Offer Bitcoin Custody Services

BlockBeats news, October 19 - According to The Block, AnchorWatch Trust Company officially opened on Monday, becoming a qualified Bitcoin custodian chartered in Nevada. The company told media that the Nevada Financial Institutions Division has officially authorized it to provide custody services. Its target clients mainly include trustees, public companies, trust institutions, and high-net-worth individuals requiring qualified Bitcoin custody services.

In terms of fee structure, AnchorWatch adopts a fixed dollar fee based on vault size rather than taking a percentage of assets under custody, with a maximum monthly custody fee capped at $10,000. This means that once a client's monthly fee reaches this cap, there will be no additional custody costs whether they purchase more Bitcoin or their asset size increases due to appreciation of holdings.

In terms of key management and custody architecture, AnchorWatch offers institutional clients two different options. In its flagship model, AnchorWatch Trust Company will hold the core keys required for qualified custody while allowing clients, trustees, or executives to hold an additional key themselves. In another distributed custody model, key control is dispersed among multiple parties, jointly managed by AnchorWatch, US-based BitGo, and Isle of Man-based CoinCorner, further reducing single-point-of-failure risk.