TechFlow News — AnchorWatch, an insurer providing coverage for commercial entities holding bitcoin, has announced a $3 million funding round led by Ten31, with participation from Axiom BTC, Timechain, Bitcoin Opportunity Fund, UTXO Management (the asset management arm of Bitcoin Magazine and organizer of the Bitcoin Conference), and others.
AnchorWatch’s proprietary Trident Vault software offers bitcoin holders a protocol-native custody solution backed by regulated, high-quality insurance. This latest investment will help AnchorWatch meet the regulatory and capital requirements necessary to deliver the Trident Vault to clients and begin issuing policies. Additionally, AnchorWatch will undergo security audits by multiple qualified firms to further strengthen the reliability of Trident Vault as an enterprise custody solution.
Trident Vault is reportedly the first bitcoin vault designed specifically for commercial use, introducing eligibility criteria for key holders and time-locked spending conditions to enable on-chain compliance and governance.
Robert Hamilton, CEO of AnchorWatch, said that bitcoin holders still face the choice between self-custody and third-party independent custody. AnchorWatch supports custody by holding a minority of keys and implementing governance and compliance at the protocol level.
