Bitcoin business entity insurance company AnchorWatch completes $3 million in funding, led by Ten31
ChainCatcher news, the insurance company AnchorWatch, which provides insurance for businesses holding Bitcoin, announced that it has secured $3 million in funding, led by Ten31, with participation from Axiom BTC, Timechain, Bitcoin Opportunity Fund, and UTXO Management (the asset management division of Bitcoin Magazine and organizer of the Bitcoin Conference).
The Trident Vault software developed by AnchorWatch offers a protocol-native custody solution for Bitcoin owners, supported by regulated high-quality insurance. This latest investment will help AnchorWatch meet the regulatory and capital requirements necessary to deliver Trident Vault to customers and begin selling policies. Additionally, AnchorWatch will undergo security audits by several qualified firms to further solidify Trident Vault's reliability as an enterprise custody solution.
It is reported that Trident Vault is the first Bitcoin vault designed specifically for commercial use, introducing key holder qualifications and time-locked spending conditions to achieve on-chain compliance and governance.
AnchorWatch CEO Robert Hamilton stated that Bitcoin holders still face the choice between self-custody and third-party independent custody. Therefore, AnchorWatch supports custody by holding a limited number of keys and employing protocol-level governance and compliance.
