AnchorWatch, a leading insurance company focusing on securing Bitcoin holdings for industrial entities, revealed an effective $3 million financing round today. The round was led by Ten31, with significant involvement from Axiom BTC, Bitcoin Magazine Fund, Timechain, Bitcoin Opportunity Fund, and other financiers. The infusion of capital will empower AnchorWatch to meet regulative requirements and capital requirements, leading the way for the launch of its Trident Vault software application and the sale of insurance plan customized for Bitcoin holders.
AnchorWatch’s Trident Vault software application represents an another ingenious service for Bitcoin custody, integrating protocol-native custody with top quality, regulated insurance protection. This addresses an important space in the Bitcoin market, offering higher self-confidence and security to BTC owners.
Trident Vault is a Bitcoin vault created solely for industrial usage. It simplifies remote group workflows, presents crucial holder seniority, and includes time-locked costs conditions, thus improving compliance and governance on-chain.
“Bitcoin owners are still faced with the binary choice between self-custody and third-party sole custodians,” stated Robert Hamilton, cofounder 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 customers. Thus, they are hesitant to rely on the commercial key holder to deliver the services promised. AnchorWatch makes owning and holding the bearer asset practical, safe, easy, secure, and verifiable.”
AnchorWatch attains collective custody through 2 crucial systems. Firstly, Trident Vault assists in assisted custody by holding a minority of secrets and carrying out protocol-level governance and compliance. This approach boosts security by distributing custody throughout various physical places and unassociated entities, mitigating dangers from occasions like fires, floods, and theft by internal or external stars.
Secondly, AnchorWatch embeds controlled home insurance straight into Trident Vaults. This insurance makes sure that properties are secured in case of disastrous events through controlled and collateralized home insurance. Thanks to Trident’s sophisticated security, AnchorWatch can offer this insurance at competitive rates.
Jonathan Kirkwood, Managing Partner at Ten31, highlighted the significance of AnchorWatch’s technique: “AnchorWatch is building both the technical infrastructure to advance bitcoin’s potential as programmable money and the credentialed legal/financial infrastructure for bitcoin to be held by commercial institutions via its insurance offerings. This is a pivotal step that directly aligns with our mission at Ten31 to establish bitcoin as a viable asset for institutions, and investing in the companies at the forefront of innovating in the ecosystem.”
AnchorWatch caters to a varied series of customers, consisting of household trusts, funds, pensions, household workplaces, Bitcoin miners, and mining swimming pools. The Trident Vault is particularly important for estate and inheritance preparation functions, serving estate lawyers, financial investment consultants, and technical consultants who supervise numerous customers’ Bitcoin custody requires.
AnchorWatch’s dedication to advancing Bitcoin custody and insurance services places them at the leading edge of the Bitcoin market, prepared to offer much-needed security and comfort for Bitcoin holders.
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