Onramp
Onramp is a Bitcoin company in the Custody category, founded in 2022 by Michael Tanguma.
The Idea
Multi-institution Bitcoin custody. Onramp distributes the keys to a client's Bitcoin across several independent institutions rather than trusting a single company, so no one party, including Onramp itself, can move the funds. It is a trust-minimized approach built to reduce the counterparty risk that has repeatedly sunk single-custodian models.
Early Traction
Onramp's Multi-Institution Custody model, built with partners like BitGo, Coincover, and Tetra Trust, won early credibility with institutions wary of single points of failure. In a landmark moment, the first UK pension fund ever to allocate to Bitcoin did so using Onramp as its custodian.
Peak Stats
Holds more than $1 billion in Bitcoin under custody, with zero security incidents since launching in 2023.
Status Today
Active and scaling its multi-institution custody model, while building a broader financial stack around Bitcoin that includes lending, treasury, and retirement products for institutions.
Why It Matters
Onramp represents the next iteration of the custody thesis, distributing trust across multiple independent parties so that no single institution, including Onramp itself, can compromise the funds. That model has been endorsed by the Bitcoin Policy Institute as the preferred approach for sovereign Bitcoin holdings.