Onramp, a financial services company specializing exclusively in Bitcoin, has recently introduced an institutional-grade asset management solution that is built upon a robust multisignature, multi-institutional, and multi-jurisdictional custody framework. By operating effectively as a contemporary, full-reserve Bitcoin bank, Onramp harnesses Bitcoin’s innovative technology in collaboration with reputable custodians such as BitGo, CoinCover, and Tetra Trust.

Founded in Texas in 2022 by Michael Tanguma, a former executive at Google and Unchained Capital, Onramp aims to democratize institutional-quality custody. The company offers a comprehensive array of financial services tailored to Bitcoin users of varying scales, including IRAs, trusts, Bitcoin-backed loans, inheritance planning, and tax-advantaged accounts.

A Bitcoin Bank in Cyberspace

Onramp is poised to leverage the transformative potential of Bitcoin in enhancing financial security. The company utilizes Bitcoin’s smart contract capabilities, particularly its multisignature script. This set of programming tools, native to the Bitcoin protocol, provides a high-security and low-complexity method for various applications, from payment networks like the Lightning Network to wealth protection that exceeds the capacities of traditional banks.

Historically, wealth custody has been limited to two fundamental models: individuals often buried their gold or sought the services of reputable banks to hold their assets. Both methods have inherent benefits and risks—one is susceptible to theft, while the other is vulnerable to financial fraud and systemic disruptions. The advent of Bitcoin has fundamentally reshaped these paradigms.

As a decentralized network, Bitcoin operates globally, with over 80,000 known nodes communicating seamlessly to facilitate transactions. This architecture circumvents bottlenecks and chokepoints. Furthermore, Bitcoin utilizes the most formidable computing network in history—known as proof-of-work or Bitcoin mining—to assure transaction integrity. Remarkably, Bitcoin transactions can be programmed to include specific conditions through if-else statements, with multisig transactions requiring multiple independent signatures for validation.

Multisig accounts bear resemblance to shared accounts in traditional banking; however, their security derives from cryptographic mathematics rather than legal oversight. This innovation results in a monetary account resilient to the influences of particular political climates, conflicts, or natural disasters, with keys distributed among custodians globally. Moreover, balances within these accounts can be transparently audited via self-hosting a complete Bitcoin node or utilizing a Bitcoin explorer—an option unavailable in conventional finance. To paraphrase former President Obama, this serves as an improved alternative to “a Swiss bank account in your pocket.”

"Bitcoin is a Swiss bank account in your pocket."
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Onramp’s Multi-institutional Custody

To date, many Bitcoin users remain entrapped in the pre-Bitcoin models of custody, either retaining funds within high-tech exchanges such as Coinbase or holding Bitcoin representation through various ETFs and treasury companies in the United States, or opting for individual control via hardware wallets. More advanced users employ multisig protocols for cold storage, utilizing high-security wallets that geographically distribute keys while remaining under user control. Onramp implements a similar framework at the institutional level.

By engaging three independent custodians across different nations—BitGo in the U.S., Tetra in Canada, and CoinCover in the UK—Onramp provides a layered financial security model that mitigates the risks associated with reliance on any specific nation, jurisdiction, team, or hardware device, offering a viable alternative to highly concentrated custody solutions.

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