Onramp vs Fireblocks — Head-to-Head Custody Comparison

An independent, data-driven comparison of Onramp and Fireblocks across security, insurance, fees, regulatory compliance, and more.

Verdict

Quick Verdict

Onramp scores 8.7 vs Fireblocks's 6.4. Onramp leads in 7 of 8 categories.

Onramp is better suited for Family offices, RIAs, HNW individuals. Fireblocks is better suited for Exchanges, Fintechs, Banks.

8.7

Very GoodCustody Score

Onramp

6.4

FairCustody Score

Fireblocks

Scores

Score Comparison

Weighted scores across all 8 custody criteria.

Criterion	Weight	Onramp	Fireblocks	Winner
Security	20%	9.5	9.0	Onramp
Insurance	15%	9.0	2.0	Onramp
Regulatory	15%	8.5	5.0	Onramp
Fee Transparency	10%	7.5	5.0	Onramp
Track Record	15%	8.0	8.5	Fireblocks
Withdrawal Flexibility	10%	8.5	8.0	Onramp
Reporting & Audit	10%	8.5	8.0	Onramp
Counterparty Diversification	5%	10.0	4.0	Onramp
Overall Score	100%	8.7	6.4	Onramp

Visual

Score Radar

Visual overlay of Onramp and Fireblocks across all categories.

OnrampFireblocks

Deep Dive

Category-by-Category Analysis

A deeper look at how each provider performs in every scoring criterion.

Security (9.5 vs 9.0)

Onramp uses Multi-institution distributed key management with Varies by underlying custodian in cold storage and regular penetration testing. Compliance: Via underlying custodians (SOC 1 & SOC 2). Incident history: No incidents.

Fireblocks uses MPC-CMP (no single private key exists) key management with Configurable (hot/warm/cold) in cold storage and regular penetration testing. Compliance: SOC 2 Type 2. Incident history: No incidents affecting client funds.

Insurance (9.0 vs 2.0)

Onramp offers Aggregate coverage across multiple custodian insurance policies via Multiple (via underlying custodians). Each underlying custodian maintains their own insurance. Combined coverage exceeds single-custodian limits.

Fireblocks offers Not applicable directly — provides technology, not custodial services via N/A. Institutions using Fireblocks arrange their own insurance. Fireblocks provides the secure infrastructure layer.

Regulatory (8.5 vs 5.0)

Onramp holds State money transmitter licenses and is a qualified custodian operating in United States. Regulated through underlying custodian partnerships with qualified custodians

Fireblocks holds Technology provider — regulatory compliance is on the institution using Fireblocks and is not a qualified custodian operating in Global. Fireblocks itself is not a custodian. It provides technology to custodians and exchanges. Institutions must pair Fireblocks with a regulated entity.

Fee Transparency (7.5 vs 5.0)

Onramp charges Contact for pricing in annual custody fees with 0.50% per trade (brokerage) per transaction. Also offers Onramp Finance: lowest-cost Bitcoin brokerage at 50bps, 5% APY on cash, 1.5% cashback card

Fireblocks charges SaaS subscription model in annual custody fees with Per-transaction fees vary per transaction. Fireblocks is infrastructure, not a direct custodian. Pricing is B2B SaaS. End users don't interact with Fireblocks directly.

Track Record (8.0 vs 8.5)

Onramp was founded in 2021 and is headquartered in Austin, TX. AUM: $1B+. Incident history: No incidents.

Fireblocks was founded in 2018 and is headquartered in New York, NY. AUM: $6T+ transferred through platform (not custodied directly). Incident history: No incidents affecting client funds.

Withdrawal Flexibility (8.5 vs 8.0)

Onramp withdrawal fees: Contact for pricing. Minimum account: $100,000. Supported assets: Bitcoin.

Fireblocks withdrawal fees: Network fees. Minimum account: Enterprise only. Supported assets: Bitcoin, Ethereum, 1,500+ tokens.

Reporting & Audit (8.5 vs 8.0)

Onramp: SOC compliance is Via underlying custodians (SOC 1 & SOC 2). As a qualified custodian, it meets SEC reporting requirements.

Fireblocks: SOC compliance is SOC 2 Type 2. Not classified as a qualified custodian.

Counterparty Diversification (10.0 vs 4.0)

Onramp is a multi-institution custody provider. Key management: Multi-institution distributed custody — keys and assets spread across multiple independent regulated custodians (BitGo, Coinbase, Fidelity, etc.).

Fireblocks is a custody technology provider provider. Key management: MPC-CMP (Multi-Party Computation with Cryptographic Multi-Party protocol). No single point of compromise..

Fees

Fee Comparison

Side-by-side fee breakdown for Onramp and Fireblocks.

Fee Type	Onramp	Fireblocks
Setup Fee	Contact for pricing	Enterprise pricing
Annual Custody	Contact for pricing	SaaS subscription model
Transaction	0.50% per trade (brokerage)	Per-transaction fees vary
Withdrawal	Contact for pricing	Network fees

Onramp: Also offers Onramp Finance: lowest-cost Bitcoin brokerage at 50bps, 5% APY on cash, 1.5% cashback card

Fireblocks: Fireblocks is infrastructure, not a direct custodian. Pricing is B2B SaaS. End users don't interact with Fireblocks directly.

Features

Feature Comparison

Checklist of features across both providers.

Feature	Onramp	Fireblocks
1,500+ token support	✗	✓
1.5% cashback card	✓	✗
5% APY on cash balances	✓	✗
API-first for developers	✗	✓
Bitcoin brokerage services (Onramp Finance)	✓	✗
DeFi access and Web3 connectivity	✗	✓
Institutional-grade security and compliance	✓	✗
MPC key management (no single key ever exists)	✗	✓
Multi-Institution Custody across multiple regulated custodians	✓	✗
No single point of failure	✓	✗
Policy engine for governance workflows	✗	✓
Treasury management	✗	✓
Used by 1,800+ institutions	✗	✓
White-glove onboarding for institutions	✓	✗

Recommendation

Who Should Choose Which?

Onramp is better if you…

✓Are a family offices
✓Are a rias
✓Are a hnw individuals
✓Are a institutions
✓Want: Only provider offering true multi-institution custody — no single point of failure
✓Want: Aggregated insurance coverage exceeds any single custodian
✓Want: $1B+ in assets under custody demonstrates institutional trust

Fireblocks is better if you…

✓Are a exchanges
✓Are a fintechs
✓Are a banks
✓Are a custodians building their own solutions
✓Want: Industry-leading MPC technology — no single private key ever exists
✓Want: Powers 1,800+ institutions and $6T+ in transfers
✓Want: SOC 2 Type 2 certified

FAQ

Frequently Asked Questions

Is Onramp or Fireblocks better for Bitcoin custody?

Onramp scores 8.7 vs 6.4 in our weighted Custody Score. Onramp leads in 7 of 8 scoring categories. However, the best choice depends on your specific needs: Onramp is best for Family offices and RIAs, while Fireblocks suits Exchanges and Fintechs.

What is the difference between Onramp and Fireblocks?

Onramp is a multi-institution custody provider, while Fireblocks is a custody technology provider provider. Onramp excels in Counterparty Diversification, whereas Fireblocks is strongest in Security.

How do Onramp and Fireblocks fees compare?

Onramp charges Contact for pricing annual custody fees with 0.50% per trade (brokerage) transaction fees. Fireblocks charges SaaS subscription model annual custody fees with Per-transaction fees vary transaction fees.

Which is more secure, Onramp or Fireblocks?

Onramp scores 9.5/10 for security while Fireblocks scores 9.0/10. Onramp uses Multi-institution distributed key management, and Fireblocks uses MPC-CMP (no single private key exists).