AnchorWatch, a crypto insurance provider, has announced the successful completion of a $3 million funding round. The round was led by investment firm Ten31 and included participation from Bitcoin Magazine’s UTXO Management, Axiom BTC, Timechain, and the Bitcoin Opportunity Fund.

AnchorWatch offers Trident Vault, a custody solution designed specifically for commercial entities holding Bitcoin. With the funding, the company plans to meet regulatory and capital requirements to bring Trident Vault to the market.

According to Jonathan Kirkwood, managing partner at Ten31, the investment in AnchorWatch is a significant step towards establishing Bitcoin as a practical institutional asset. Trident Vault is backed by regulated insurance and features layered security and regulated property insurance, with holder seniority and time-locked spending for compliance and on-chain governance.

Summary:

AnchorWatch, a provider of crypto insurance, has raised $3 million in a funding round led by Ten31. The funds will be used to fulfill regulatory and capital requirements to bring Trident Vault, a custody solution for commercial Bitcoin holders, to the market. Trident Vault offers layered security and regulated property insurance, with plans to start selling policies to customers in due course.

FAQ

What is AnchorWatch?

AnchorWatch is a crypto insurance provider that offers bespoke insurance products for commercial entities holding Bitcoin.

What is the Trident Vault?

Trident Vault is a custody solution developed by AnchorWatch specifically for commercial entities holding Bitcoin. It features layered security and regulated property insurance.

Who led the $3 million funding round for AnchorWatch?

The funding round was led by investment firm Ten31. Other participants in the round included Bitcoin Magazine’s UTXO Management, Axiom BTC, Timechain, and the Bitcoin Opportunity Fund.

What will AnchorWatch use the funding for?

AnchorWatch plans to use the funding to fulfill regulatory and capital requirements to bring Trident Vault to the market.

What is the goal of AnchorWatch?

The goal of AnchorWatch is to provide a protocol-native custody solution and advance the potential of Bitcoin as programmable money. The company also aims to establish Bitcoin as a practical institutional asset through its insurance offerings.

Sources: Prnewswire, Coinjournal