Most custodians charge a percentage of assets held, so fees grow with the bitcoin price. AnchorWatch Trust Company opened as a Nevada-chartered qualified bitcoin custodian with fixed-dollar pricing instead, capped at $10,000 per month.

The Nevada Financial Institutions Division authorized the firm to provide custody. Clients choose between two models: AnchorWatch holds the keys needed for qualified custody while the client keeps extra keys, or key control is split among AnchorWatch, BitGo in the U.S. and CoinCorner in the Isle of Man.

Optional Lloyd's-backed insurance can reach $370M per client, subject to underwriting.

Policies are issued in the client's name and can cover losses from violent coercion, kidnapping and fraudulent conduct by AnchorWatch itself. The service targets fiduciaries, public companies, trusts and high-net-worth holders that need qualified custody.