Multi-Institution Custody
Secured by three. Controlled by you.
Your bitcoin is secured by three independent institutions, eliminating any single point of failure. Onramp maintains custody insurance through Lloyd's of London covering its operations against private-key compromise (not client assets).
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Multi-Institution is the next generation of custody
Your bitcoin is protected by three independent institutions. Every transaction starts with you, and any two of the three keys are required to complete it. No single party, not the client, not Onramp, not any individual custodian, can move your bitcoin alone.
You retain full control, but offload the operational burden. You eliminate single points of failure without needing to manage seed phrases or maintain hardware.
Multi-Institution Custody provides the foundation for securing your bitcoin wealth and unlocking financial services like inheritance planning, loans, and IRAs.
Getting underwritten is itself an examination: Lloyd's only prices residual risk after the architecture has removed what it can. What the included policy covers, and what it does not, is on Custody Insurance. The full argument is in The True Cost of Bitcoin Custody and Insurance.
What is Multi-Institution Custody?
Multi-Institution Custody (MIC) is a bitcoin custody model in which three independent institutions each hold one key of a 2-of-3 multisignature quorum, and the client holds no private keys. No single institution can move the bitcoin, no single institution's failure can lose it, and the client never performs key ceremonies, firmware updates, or seed backups. Any two of the three institutions must co-sign a withdrawal for funds to move. Onramp operates the model with available keyholders including Onramp, BitGo, Coincover, and Tetra Trust.
- A 2-of-3 institutional quorum. Three separate institutions each hold one key on separately operated infrastructure. The vault requires any two keys to sign.
- The client holds no private keys. There is no seed phrase, hardware wallet, firmware update, or personal key ceremony for the client to manage.
- No single keyholder can act alone. One compromised, unavailable, or uncooperative institution cannot move funds or prevent the other two keyholders from reaching quorum.
- Withdrawals require two signatures. Withdrawals require the client's instruction and independent verification by multiple keyholding institutions before two institutions co-sign.
- Each vault is visible on-chain. Clients receive a dedicated vault and can independently verify its balance and transaction history on the bitcoin blockchain.
Benefits
Key benefits at a glance
By distributing bitcoin keys across multiple independent institutions, Multi-Institution Custody delivers stronger security, resilience, and ease of use than any single-custodian model. No single custodian can freeze or compromise your bitcoin on its own, giving you the confidence to hold for the long term.
Eliminate single points of failure
No single institution can fail and cost you your bitcoin. Multi-Institution Custody is built to survive the collapse of any one keyholder, including Onramp.
Protected against physical threats
You can't be physically coerced into moving your bitcoin. Even under threat, no one can force a transaction, because you don't hold the keys.
Protected against political and regulatory risk
Your keys are held in multiple countries by separate institutions. No single government action, executive order, or regulatory event can reach your bitcoin.
No seed phrases. No hardware. No stress.
Get institutional-grade security without managing keys, devices, or backup procedures yourself. Set up your account in minutes, with your dedicated Onramp account manager available whenever you need them.
Lloyd's of London custody insurance (Onramp operations)
Onramp maintains custody insurance through Lloyd's of London, covering its operations against private-key compromise (not client assets). The world's most established insurance market only underwrites custody architectures it considers low-risk, which is why single-custodian models rarely qualify for comparable coverage. See what the policy covers.
On-chain transparency
You don't have to take Onramp's word for it. Every Onramp account has its own segregated, on-chain wallet you can verify independently, 24/7.
Keyholding Institutions
The institutions behind your custody
Independent institutions with specialized roles, working together to protect your bitcoin. See what each keyholder does.
Built and operates Multi-Institution Custody. Onramp is one of three keyholders on every account, with billions in client bitcoin secured since 2022.
BitGo Trust Company, the South Dakota-chartered trust subsidiary of BitGo. BitGo was founded in 2013 and invented bitcoin multisig technology.
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Tetra Trust, Canada's first regulated digital asset custodian. Registered under Alberta's Loan and Trust Corporations Act.
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For anyone holding bitcoin for the long term, Multi-Institution Custody is the most secure way to do it. Get started in minutes, or schedule a consultation to talk through your situation.
What happens if…
…Onramp is unavailable?
MIC is designed to survive the failure of any one keyholder, including Onramp. The remaining two institutions retain the quorum needed to coordinate recovery into a replacement vault.
…one keyholding institution is unavailable?
Two of the three keys remain, which is sufficient to authorize a transaction. The unavailable institution's key cannot move funds alone.
…the client dies?
The custody plan can rely on documented estate instructions rather than an heir finding a seed phrase or learning a signing ceremony. Learn more about bitcoin inheritance planning.
MIC compared with other custody models
| Model | Who can move funds alone | Client holds keys | Client responsibility | Best fit |
|---|---|---|---|---|
| Exchange / single custodian | The custodian | No | Low | Trading and smaller balances |
| Collaborative multisig | Depends on the quorum | Yes | Ongoing key management | Technical holders who want direct control with provider support |
| Self-managed multisig | Depends on the quorum | Yes, all keys | Full setup, backup, and recovery | Experienced holders prioritizing maximum sovereignty |
| Multi-Institution Custody | Nobody | No | No personal key management | Long-horizon wealth, estates, trusts, and advisors |
Who offers Multi-Institution Custody
Onramp operates MIC using a standard 2-of-3 quorum drawn from available keyholders including Onramp, BitGo, Coincover, and Tetra Trust. Onramp launched its first product using multi-institution custody in April 2023. The same architecture supports Onramp's Bitcoin IRA and inheritance planning.
AnchorWatch offers 2-of-3 MIC Vaults powered by its Trident platform, with AnchorWatch, BitGo, and CoinCorner as listed keyholders and optional insurance for eligible US customers.
Aureo is developing a Latin America-focused MIC offering in partnership with Onramp.
Whoever you evaluate, ask the same questions: who holds the keys, where they operate, what agreements govern the vault, and what happens if one keyholder becomes unavailable.
Who MIC is for, and who it is not for
MIC is built for
- Long-term holders who want institutional separation by design
- Estates and trusts that need an operable custody process
- Advisors and family offices that require institutional accountability
- Plans for a spouse or heir who should not need to manage private keys
MIC is the wrong choice for
- Holders who require personal possession of a private key
- Small balances for which institutional pricing is not economical
- People who do not want multiple independent institutions involved
- Anyone who needs to move bitcoin unilaterally and immediately
MIC trades unilateral action for protection against unilateral failure. If that trade does not fit, collaborative multisig or self-custody may be a better model. Compare each option using the published Custody Independence Standard.
FAQs
Common questions about Multi-Institution Custody
How MIC compares with other custody models, what the client is and is not responsible for, and what happens when a keyholder becomes unavailable.
Get started with Multi-Institution Custody
Schedule a consultation to walk through how Multi-Institution Custody fits your situation. Or sign up and get started in minutes.