Bitcoin Custody: How CoinCorner Vault Works

CoinCorner and AnchorWatch have launched a retail Bitcoin custody product called Vault. It charges holders 1.5% of their balance annually in exchange for a two-company signing structure and insurance arranged through the Lloyd’s of London market. The coverage is intended for specified risks, including key loss and unauthorized access; it does not protect against a falling Bitcoin price or every operational failure a custodian could face.

The launch highlights a tension in Bitcoin’s development. Custody infrastructure is becoming more formal and institutionally structured, while Forbes reporting suggests Miami’s civic conversation is placing less emphasis on crypto as a defining public identity. One story concerns the management of custody risk. The other concerns the priorities being discussed by people running a city that had become closely associated with crypto promotion.

How Vault’s Two-Company Custody Model Works

CoinCorner has launched Vault, bringing insured Bitcoin custody to its UK customers.

CoinCorner and AnchorWatch hold the keys between them. Neither can move a customer’s Bitcoin alone. Coverage is backed by Lloyd’s of London. pic.twitter.com/qBEdWC1ghJ

— AnchorWatch (@AnchorWatch) September 8, 2026

Vault splits control of customer Bitcoin between two independent firms in different jurisdictions. CoinCorner holds one signing key and AnchorWatch holds the other, so neither company can move funds without the other’s cooperation.

The companies describe the arrangement as multi-signature, multi-jurisdiction and multi-entity custody. In practical terms, the structure is designed to avoid placing complete control with a single firm or in a single jurisdiction.

Customers can set identity checks that must be completed before a transfer is authorized, adding a verification layer alongside the signing arrangement. The service is designed to give holders cold-storage discipline without requiring them to assemble hardware wallets, manage seed phrases, or operate a personal multisignature setup. The user experience remains within a CoinCorner account.

There is also a timing consideration before coins are moved. Deposits opened in Vault may not enter the insured multisignature wallet immediately and can settle on the first working day of the following month. Holdings can be viewed on-chain through an address provided by CoinCorner. Withdrawals return funds to a standard CoinCorner Bitcoin balance, after which ordinary on-chain fees may apply. The companies say Bitcoin deposited in Vault is not lent out or reused.

What the Product Actually Protects

AnchorWatch, the US custody and insurance specialist in Vault’s key structure, is a Lloyd’s coverholder authorized to arrange policies backed by Lloyd’s underwriting capacity.

The companies have presented Vault as a way to offer retail holders insured, multi-signature custody without a technical self-custody setup. Their description centers on keys divided between independent firms and jurisdictions, with insurance arranged through the Lloyd’s market.

The commercial terms are straightforward: Vault costs 1.5% annually and is billed monthly against the Bitcoin balance recorded at the start of each month. Users can add funds at any time and are not committed to a long-term contract.

The limitations are equally important. CoinCorner’s crypto services are not authorized by the UK’s Financial Conduct Authority and are not covered by the Financial Services Compensation Scheme.

Private insurance applies to specified events such as key loss and unauthorized access, rather than price declines or every conceivable operational issue.

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Why Miami’s Crypto Role Is Changing: Abandoning Bitcoin?

While Bitcoin custody is being packaged in a more institutional form, Forbes reports that Miami’s public discussion has moved toward safety, permits, and city infrastructure.

The shifting winds center on former mayor Francis Suarez, including his decision to receive his salary in Bitcoin and his announcement of a $5.25 million MiamiCoin payout to the city in 2022. The token later lost nearly all of its value.

Forbes’ account of separate interviews says city manager James Reyes argued that crypto has a place but should not be the backbone of the city’s economic infrastructure, and Miami Police Department chief Edwin Lopez made a statement that the department does not own cryptocurrency, and says he discussed drones, plate readers, and intersection cameras used for the FIFA Fan Festival at Bayfront Park.

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