Onramp vs Hex Trust — Head-to-Head Custody Comparison

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

Verdict

Quick Verdict

Onramp scores 8.7 vs Hex Trust's 6.9. Onramp leads in 8 of 8 categories.

Onramp is better suited for Family offices, RIAs, HNW individuals. Hex Trust is better suited for Asian institutions, Banks in APAC, Fintech companies.

8.7

Very GoodCustody Score

Onramp

6.9

FairCustody Score

Hex Trust

Scores

Score Comparison

Weighted scores across all 8 custody criteria.

Criterion	Weight	Onramp	Hex Trust	Winner
Security	20%	9.5	8.0	Onramp
Insurance	15%	9.0	6.5	Onramp
Regulatory	15%	8.5	8.0	Onramp
Fee Transparency	10%	7.5	5.0	Onramp
Track Record	15%	8.0	6.5	Onramp
Withdrawal Flexibility	10%	8.5	7.0	Onramp
Reporting & Audit	10%	8.5	7.5	Onramp
Counterparty Diversification	5%	10.0	3.0	Onramp
Overall Score	100%	8.7	6.9	Onramp

Visual

Score Radar

Visual overlay of Onramp and Hex Trust across all categories.

OnrampHex Trust

Deep Dive

Category-by-Category Analysis

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

Security (9.5 vs 8.0)

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.

Hex Trust uses MPC-based custody key management with Majority cold in cold storage and regular penetration testing. Compliance: SOC 2 Type 2. Incident history: No incidents.

Insurance (9.0 vs 6.5)

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.

Hex Trust offers Insurance coverage available via Not publicly disclosed. Institutional custody insurance.

Regulatory (8.5 vs 8.0)

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

Hex Trust holds Hong Kong TCSP license, Singapore MAS license and is not a qualified custodian operating in Hong Kong / Singapore / APAC. Licensed in multiple Asian jurisdictions.

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

Hex Trust charges Custom in annual custody fees with Custom per transaction. Asia-Pacific focused with multi-jurisdiction licensing.

Track Record (8.0 vs 6.5)

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

Hex Trust was founded in 2019 and is headquartered in Hong Kong. AUM: Not publicly disclosed. Incident history: No incidents.

Withdrawal Flexibility (8.5 vs 7.0)

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

Hex Trust withdrawal fees: Network fees. Minimum account: Institutional only. Supported assets: Bitcoin, Ethereum, 400+ assets.

Reporting & Audit (8.5 vs 7.5)

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

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

Counterparty Diversification (10.0 vs 3.0)

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.).

Hex Trust is a qualified custodian provider. Key management: Licensed institutional custody with MPC technology..

Fees

Fee Comparison

Side-by-side fee breakdown for Onramp and Hex Trust.

Fee Type	Onramp	Hex Trust
Setup Fee	Contact for pricing	Custom
Annual Custody	Contact for pricing	Custom
Transaction	0.50% per trade (brokerage)	Custom
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

Hex Trust: Asia-Pacific focused with multi-jurisdiction licensing.

Features

Feature Comparison

Checklist of features across both providers.

Feature	Onramp	Hex Trust
1.5% cashback card	✓	✗
400+ asset support	✗	✓
5% APY on cash balances	✓	✗
Bank-grade infrastructure	✗	✓
Bitcoin brokerage services (Onramp Finance)	✓	✗
Institutional-grade security and compliance	✓	✗
MPC technology	✗	✓
Multi-Institution Custody across multiple regulated custodians	✓	✗
Multi-jurisdiction APAC licensing	✗	✓
No single point of failure	✓	✗
Staking and DeFi access	✗	✓
Tokenization services	✗	✓
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

Hex Trust is better if you…

✓Are a asian institutions
✓Are a banks in apac
✓Are a fintech companies
✓Are a fund managers
✓Want: Leading APAC digital asset custodian
✓Want: Multi-jurisdiction licensing
✓Want: SOC 2 Type 2 certified

FAQ

Frequently Asked Questions

Is Onramp or Hex Trust better for Bitcoin custody?

Onramp scores 8.7 vs 6.9 in our weighted Custody Score. Onramp leads in 8 of 8 scoring categories. However, the best choice depends on your specific needs: Onramp is best for Family offices and RIAs, while Hex Trust suits Asian institutions and Banks in APAC.

What is the difference between Onramp and Hex Trust?

Onramp is a multi-institution custody provider, while Hex Trust is a qualified custodian provider. Onramp excels in Counterparty Diversification, whereas Hex Trust is strongest in Security.

How do Onramp and Hex Trust fees compare?

Onramp charges Contact for pricing annual custody fees with 0.50% per trade (brokerage) transaction fees. Hex Trust charges Custom annual custody fees with Custom transaction fees.

Which is more secure, Onramp or Hex Trust?

Onramp scores 9.5/10 for security while Hex Trust scores 8.0/10. Onramp uses Multi-institution distributed key management, and Hex Trust uses MPC-based custody.