British bitcoin exchange CoinCorner has launched Vault, a multi-signature custody service that divides control of customer bitcoin between itself and US partner AnchorWatch. Holdings are insured through Lloyd’s of London against loss of keys and unauthorized access.

The product, announced on September 8, 2026, targets bitcoin holders seeking cold-storage security without managing hardware wallets themselves. CoinCorner, based in the Isle of Man, said the service is available immediately to its customers and describes it as the first of its kind globally.

How the Vault Operates

Vault uses multi-signature technology so that CoinCorner holds one key while AnchorWatch holds the other. The two firms operate in separate jurisdictions, meaning neither can move funds alone. Customers open a Vault and deposit any amount of bitcoin. Transfers into the insured wallet typically occur on the first working day of the following month. Once inside, holdings remain verifiable on the blockchain through addresses supplied by CoinCorner.

Top-ups can be made at any time. Withdrawals return bitcoin to a customer’s standard CoinCorner balance and can be initiated whenever desired, subject to a standard on-chain transaction fee. CoinCorner stated that it does not lend or otherwise use bitcoin placed in Vault. Customers may also set their own identity-verification requirements that must be completed before any transfer is approved.

Insurance and Pricing

Insurance is underwritten by Lloyd’s of London and covers loss of keys and unauthorized access. AnchorWatch, a Lloyd’s coverholder, arranged the policy. Specific coverage limits for the CoinCorner product have not been disclosed publicly. The annual fee is 1.5 percent, calculated and charged monthly on the basis of the bitcoin value recorded in the Vault on the first day of each month. No long-term lock-up is required.

Becca Rubenfeld, chief operating officer at AnchorWatch, said the arrangement delivers institutional-grade protection in a form accessible to individual users: multi-signature keys split across independent companies and jurisdictions, backed by A-rated Lloyd’s insurance, and designed for straightforward use.

Context of Recent Security Incidents

The launch follows a high-profile exploit involving Coldcard hardware wallets. A firmware bug that produced weak seed generation allowed attackers to drain single-signature wallets, resulting in losses of approximately $115 million, or nearly 2,000 bitcoin. The incident renewed focus on the risks of single-key storage and the relative complexity of traditional multi-signature setups, which require users to manage multiple devices, generate and back up several private keys, and track their locations.

CoinCorner and AnchorWatch handle key distribution and management on the customer’s behalf, aiming to deliver the security properties of multi-signature custody without the technical overhead that has limited wider adoption.

Rob Hamilton, chief executive of AnchorWatch, stated that the partnership enables individuals for the first time to obtain Lloyd’s of London coverage for bitcoin held at an exchange.

Regulatory Position

CoinCorner’s cryptoasset services remain outside regulation by the UK Financial Conduct Authority and are not covered by the Financial Services Compensation Scheme. The company is registered with the Isle of Man Financial Services Authority and serves more than 350,000 users across 15 markets. Private insurance under the Vault policy is distinct from any statutory protection and applies only to the named risks under the agreed terms.

The product arrives as the UK prepares a full authorization regime for crypto custody that is scheduled to take effect in October 2027.