ANCHORWATCH OPENS A NEVADA BITCOIN TRUST COMPANY — ITS LLOYD’S POLICY LISTS FRAUD BY ANCHORWATCH ITSELF — THE RELEASE NAMES NO KEY QUORUM

AnchorWatch Trust Company opened for business on October 19, 2026. Its release calls it a Nevada state-chartered trust company and qualified custodian, “authorized by the Nevada Financial Institutions Division to act as a custodian.” It is selling bitcoin custody to fiduciaries, public companies, trusts and wealthy individuals.

Start with the keys. In the flagship plan, the trust company holds the keys needed for qualified custody, “while the client’s trustees or executives hold additional keys.” In the multi-institution plan, key control is split across AnchorWatch, BitGo in the United States and CoinCorner in the Isle of Man. The release never says how many keys there are or how many it takes to move the coins. That one number tells you whether the client can be locked out, and whether the firms can move coins without the client.

Then the insurance. AnchorWatch is a Lloyd’s coverholder and says it can write up to a “$370 million limit per ATC client,” backed by Lloyd’s syndicates. The listed perils include “violent coercion and kidnappings, and AnchorWatch acting fraudulently resulting in a loss.” So the firm that holds a key is also the firm writing the policy against its own fraud. Its homepage on October 19 still read “$100M per-vault coverage.”

The pitch is the fee: fixed dollar tiers capped at $10,000 a month, not a cut of the coins. One line of the release says monthly fees are capped. Another says annual fees are fixed with a monthly cap. The tiers are not printed. A custodian asking for your keys can print the quorum and the price. At the time of this writing, bitcoin was $81,926.