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Onramp, a bitcoin asset management platform, has officially launched its multi-institution custody solution.
The platform aims to maximize security and minimize counterparty risk by incorporating multi-signature (multisig) capabilities and partnering with industry stalwarts like BitGo, Coincover, and Kingdom Trust.
<h3 id="onramp-offers-a-hybrid-model-self-custody-centralized-custodial-service">Onramp offers a hybrid model: Self-custody + centralized custodial service</h3>
The question of securely storing Bitcoin has remained a significant barrier to entry for both individual and institutional investors. Self-custody, while secure, is technically demanding and fraught with risks. On the other hand, centralized custodial services have their own set of challenges, primarily that of counterparty risk.
Onramp's solution bridges this gap, offering a hybrid model that combines the advantages of self-custody with institutional-grade security features.
Onramp’s multi-institution custody solution leverages a multisig quorum, requiring two of three institutional keys to move funds. Each key is held by a separate institution, each with its own independent KYC/AML processes.
"This approach eliminates the single-point-of-failure risk associated with traditional custodial services," said Mitch Kochman, Director of Platform Sales at BitGo.
<h2 id="onramp-teamed-up-with-bitgo-kingdom-trust-and-coincover">Onramp teamed up with BitGo, Kingdom Trust, and Coincover</h2>
Onramp has teamed up with BitGo for multisig infrastructure, Kingdom Trust as a qualified custodian, and Coincover for blockchain protection. This trifecta of partnerships aims to offer unparalleled security and peace of mind to investors. "The Onramp custody model minimizes the trust required for each key-holder, as none can unilaterally control the assets," said Alexander Saleh, Head of Partnerships at Coincover.
Beyond custody, Onramp provides a comprehensive suite of bitcoin asset management services tailored for high net worth individuals, financial intermediaries, and institutional allocators. These include a Bitcoin Fund, turnkey asset management programs for RIAs, and specialized services for private clients.
The launch of Onramp's multi-institution custody solution could be a watershed moment for Bitcoin. It addresses the custody challenges that have kept institutional capital on the sidelines, thus potentially unlocking trillions in untapped capital.
In summary, Onramp’s innovative custody solution is poised to redefine the landscape for Bitcoin asset management, setting new industry standards for security and reliability. With its strong partnerships and a comprehensive suite of offerings, Onramp is well-positioned to cater to a broad spectrum of investors, from the individual to the institutional.

Onramp launches hybrid crypto custody solution for institutions

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