Onramp launched Onramp Business on Tuesday, a free company account with named users, role-based permissions and two-person withdrawal approvals, as physical attacks on bitcoin holders increased in the first half of the year.
The Austin firm announced the product for companies that want bitcoin on their balance sheet but have hesitated to leave it with a single login, a single custodian or a single keyholder. The base account charges a 0.85% trading fee, holds bitcoin with a qualified custodian and is typically verified within one business day. It supports up to three users, with owner, admin and view-only roles, and includes an audit trail. Two higher-tier products, Onramp Treasury and Onramp Enterprise, launched at the same time.
“We spent years watching businesses decide they wanted bitcoin on the balance sheet, then stall the moment their board asked who holds the keys,” said Onramp founder and CEO Michael Tanguma. “Nobody had a good answer. Onramp Business gives a company the same controls its bank account already has: named users, approvals on withdrawals, and a record of everything. As the position grows, Onramp Treasury holds it in a vault protected by three independent institutions, so no single party, Onramp included, can lose or move it.”
A midyear report documented 52 physical attacks on bitcoin and crypto holders in the first half of 2026, a 33% increase from a year earlier. The recorded value of exposure associated with the incidents rose to about $124 million from $10.5 million. The report notes that someone able to move coins alone could be forced to do so under duress.
What the free account includes—and what it doesn’t
Onramp Business is not Multi-Institution Custody. According to the company’s product page, bitcoin in the free account is held in cold storage with a qualified custodian. Multi-Institution Custody is included with Onramp Treasury, which costs $375 per month, or $3,600 per year, lowers the trading fee to 0.65% and transfers the coins to a vault held in the company’s name.
The vault is secured by a 2-of-3 quorum involving Onramp, Tetra Trust and CoinCover, meaning no one institution can lose, move or use the bitcoin. Treasury supports up to five users and two vaults, and includes migration support and continuity planning for leadership changes. The $500 onboarding fee is waived for companies that activate Treasury by Dec. 31. Onramp Enterprise, designed for funds, miners and large corporate treasuries, is priced through consultation.
Onramp has provided Multi-Institution Custody to individuals and institutions since 2023, with BitGo also in its network. The firm raised $12.5 million in a Series A in May at a valuation of $135 million. It has said it holds more than $1 billion in bitcoin under the model and has had no security incidents since its founding. In April, it also launched Onramp Finance, which combines cash, bitcoin brokerage, IRAs and gold.
A crowded corporate treasury trade—and a key-person risk
Public companies have made bitcoin a balance-sheet asset on a scale that would have been unusual just a few years ago. Strategy (MSTR), the largest corporate holder, now holds 850,364 bitcoin following its latest weekly purchase. For smaller companies, the more difficult issue has often been operational: who holds the keys, what happens when that person leaves, and whether one compromised login or one coerced employee could move the entire position.
The announcement said Pacific Office Designs and Build Collateral Agent are already using Onramp for company bitcoin.
“As collateral agent for credit funds using bitcoin as collateral, Build Collateral Agent, LLC selects partners based on a number of risk mitigation considerations, including our attempt to eliminate single points of failure,” said John Ruth, president of Build Collateral Agent, LLC. “Onramp Business uses a differentiated approach with their multi-institutional security model that is aligned with our risk mitigation philosophy. Onramp’s service model has exceeded our expectations. Team members and leadership are available to us when we need them – providing valuable human connections to a tech savvy product suite.”
The question now is whether boards that were interested in the asset but rejected the available custody options will see two-person approvals and a vault involving three institutions as an adequate solution.
This post, Onramp Launches Business Bitcoin Accounts With Two-Person Withdrawal Approvals as Wrench Attacks Climb, first appeared in Bitcoin Magazine and was written by Micah Zimmerman.
Source: bitcoinmagazine.com. Adapted by NBTC.
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