CoinCorner launches insured multisig Bitcoin custody service

Isle of Man-based cryptocurrency exchange CoinCorner has launched ‘Vault’, a multisig Bitcoin custody service developed in partnership with US-based AnchorWatch. The service is designed to provide institutional-grade security by splitting control of private keys between the two companies, requiring both signatures for transfers.

To mitigate risks such as theft, phishing, or loss of keys due to natural disasters, the holdings are insured by Lloyd’s of London. The insurance coverage begins on the first working day of the month following a deposit into the insured wallet. The service carries an annual storage fee of 1.5%, calculated daily.

The launch follows a significant security incident involving Coldcard hardware wallets, where a firmware bug in seed generation led to the loss of approximately 1,367 BTC (roughly $115 million). While CoinCorner has not stated the new service is a direct response to this event, the Vault aims to simplify the complex technical requirements of traditional multisig setups for non-technical users.