Onramp Just Raised $12.5M to Build a New Kind of Bitcoin Custody — Here's Why Multi-Institution Custody Matters
89d ago · 1 source
Onramp, a Bitcoin custody platform that distributes key management across multiple institutions, has raised $12.5 million in a Series A funding round. The capital will be used to scale its multi-institution custody infrastructure, which is designed to eliminate single points of failure in how Bitcoin is stored and secured.
WHY IT MATTERS
Imagine you have a safety deposit box, but instead of one bank holding the only key, three different banks each hold a piece of the key — and you need at least two of them to agree before the box can be opened. That's essentially what multi-institution custody does for Bitcoin. It removes the risk of any single company being hacked, going bankrupt, or acting maliciously with your funds. As bigger players like pension funds and corporations start holding Bitcoin, this kind of security infrastructure becomes essential. This funding round shows that investors believe the 'plumbing' behind Bitcoin storage is just as important as Bitcoin itself.
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