CoinCorner Debuts Bitcoin Custody Backed by Lloyd’s Insurance

The service, branded as Vault, requires two private keys to authorize any transaction. CoinCorner holds one key, while the US-based infrastructure provider AnchorWatch manages the other, ensuring that neither entity can move client assets unilaterally. This architecture is designed to eliminate the single point of failure inherent in traditional custodial wallets. Clients are charged an annual fee of 1.5%, billed monthly based on the balance recorded on the first day of each month.

While the arrangement provides a specialized security layer, it does not grant users the protections typically associated with traditional finance. CoinCorner explicitly notes that its crypto services are not regulated by the Financial Conduct Authority, nor are they covered by the UK’s Financial Services Compensation Scheme. The private insurance policy covers specific events such as key loss or unauthorized access, but does not extend to price volatility or insolvency. As the UK prepares to implement a comprehensive crypto authorization regime in 2027, the firm continues to operate as an Isle of Man-registered entity, distinct from its payment service partnerships.