CoinCorner Launches a New Bitcoin Custody Service for UK Customers Vault. This product charges a fee of 1.5% per year and adopts a dual-key mechanism, with CoinCorner and AnchorWatch holding the keys separately; neither party can transfer the customer's bitcoins alone.

Hosting and Insurance Arrangements

Vault uses multi-signature technology to distribute control between two companies. CoinCorner states that the relevant Bitcoin is insured by Lloyd's of London, covering scenarios such as key loss and unauthorized access. Customers can also set their own identity verification steps, which must be completed before conducting any transactions.

Fees and Capital Inflows and Outflows

Vault Monthly billing. CoinCorner On the first day of each month, fees are calculated based on the Bitcoin balance recorded in Vault at that time. Users do not need to lock their funds for a long period and can deposit or withdraw Bitcoin at any time. After withdrawal, the funds return to the regular CoinCorner Bitcoin balance, and the platform claims that this process is instant.

There is still a distinction in regulatory status.

CoinCorner indicates that its encryption services are still not regulated by the UK Financial Conduct Authority FCA, nor are they protected by the Financial Services Compensation Scheme FSCS. The company states that the private insurance provided by Vault only covers agreed-upon events and does not include situations such as a decline in Bitcoin prices, platform bankruptcy, or any operational losses.

New regulations in the UK are on the way

At the time of the launch of this service, the UK is preparing to incorporate encrypted hosting into a comprehensive licensing system. As previously disclosed, the new regulations FCA are expected to come into effect on October 25, 2027, with the application period lasting from September 30, 2026, to February 28, 2027. The new framework will cover aspects such as hosting, trading platforms, stablecoin issuance, and staking services.