Onramp
Multi-Institution CustodyOnramp provides Multi-Institution Custody (MIC) that distributes Bitcoin across multiple independent regulated custodians. Rather than trusting a single entity, assets are spread across institutions so no single point of failure can compromise holdings.
Quick Verdict
With a Custody Score of 8.7/10, Onramp is ranked #1 of 1 among multi-institution custody providers. Its strongest category is Counterparty Diversification and its weakest is Fee Transparency.
Analysis
Score Breakdown
The Custody Score is a weighted average across 8 criteria, each rated 1-10.
| Criterion | Score | Weight | Weighted |
|---|---|---|---|
| Security | 9.5 | 20% | 1.90 |
| Insurance | 9 | 15% | 1.35 |
| Regulatory | 8.5 | 15% | 1.27 |
| Fee Transparency | 7.5 | 10% | 0.75 |
| Track Record | 8 | 15% | 1.20 |
| Withdrawal Flexibility | 8.5 | 10% | 0.85 |
| Reporting & Audit | 8.5 | 10% | 0.85 |
| Counterparty Diversification | 10 | 5% | 0.50 |
| Total | 100% | 8.7 |
Key Features
- ✓Multi-Institution Custody across multiple regulated custodians
- ✓No single point of failure
- ✓Institutional-grade security and compliance
- ✓Bitcoin brokerage services (Onramp Finance)
- ✓5% APY on cash balances
- ✓1.5% cashback card
- ✓White-glove onboarding for institutions
Fee Breakdown
| Setup Fee | Contact for pricing |
| Annual Custody Fee | Contact for pricing |
| Transaction Fee | 0.50% per trade (brokerage) |
| Withdrawal Fee | Contact for pricing |
| Notes | Also offers Onramp Finance: lowest-cost Bitcoin brokerage at 50bps, 5% APY on cash, 1.5% cashback card |
Security Details
Key Management
Multi-institution distributed
Cold Storage
Varies by underlying custodian
SOC Compliance
Via underlying custodians (SOC 1 & SOC 2)
Penetration Testing
Yes
Incident History: No incidents
Insurance Coverage
Coverage
Aggregate coverage across multiple custodian insurance policies
Carrier
Multiple (via underlying custodians)
Details
Each underlying custodian maintains their own insurance. Combined coverage exceeds single-custodian limits.
Regulatory Status
Licenses
- State money transmitter licenses
Regulated through underlying custodian partnerships with qualified custodians
Pros & Cons
Pros
- Only provider offering true multi-institution custody — no single point of failure
- Aggregated insurance coverage exceeds any single custodian
- $1B+ in assets under custody demonstrates institutional trust
- Integrated brokerage with lowest Bitcoin buy fees (50bps)
- Cash yield (5% APY) and cashback card add value beyond custody
Cons
- $100K minimum may exclude smaller investors
- Bitcoin-only (no altcoins)
- Newer company (founded 2021) vs established players
- Pricing not fully transparent on website — requires contact
How Onramp Compares
Top multi-institution custody providers ranked by Custody Score.
No other providers in the multi-institution custody category.