CoinCorner launches Lloyd's-insured Bitcoin custody

CoinCorner has launched Vault, a new Bitcoin custody service targeting UK customers that features insurance underwritten through the Lloyd's of London market. The service utilizes a multi-signature setup where control over user funds is divided between Isle of Man-based CoinCorner and US-based custody infrastructure provider AnchorWatch. Under this architecture, neither company can move customer assets independently, mitigating the risk associated with single points of failure in traditional custodial wallets. The service carries an annual fee of 1.5%, billed on a monthly basis, with no long-term lockups or commitments required from account holders. Deposited Bitcoin is not lent out or used to generate yield. While the Lloyd's-backed insurance policy covers risks including key loss and unauthorized access, CoinCorner clarified that the product operates outside the UK Financial Conduct Authority's direct regulatory regime and is not protected by the Financial Services Compensation Scheme. The launch comes ahead of the UK's planned implementation of a comprehensive FCA cryptoasset regulatory framework scheduled to take effect in October 2027.