Crypto
CoinCorner Introduces Vault, A Multi-Signature Bitcoin Custody Service
CoinCorner has launched its new Bitcoin custody service, called Vault, which uses multi-signature technology to divide control of customers' Bitcoin between two companies operating in different jurisdictions.
The UK-based company holds one key, while insurance and custody provider AnchorWatch holds the other. Neither company can independently approve a transfer from the Vault, removing the single point of control found in conventional custodial wallets.
Vault charges a 1.5% annual fee, with CoinCorner calculating and billing the fee monthly based on the amount of Bitcoin recorded in the customer's Vault at that time. Customers can add or remove funds without a long-term commitment and set custom identity checks.