Onramp, a company dedicated exclusively to Bitcoin financial services, has unveiled a sophisticated asset management solution tailored for institutions. This offering is built upon their robust custody platform that employs multisignature and multi-jurisdictional protocols. Essentially functioning as a modern-day full-reserve Bitcoin bank, Onramp harnesses the transformative power of Bitcoin technology in collaboration with established custodians such as BitGo, CoinCover, and Tetra Trust.
Established in Texas by Michael Tanguna in 2022 — who previously held positions at Google and Unchained Capital — Onramp aims to make institutional-grade custody accessible to all Bitcoin enthusiasts. The company provides an array of financial services including IRAs, trusts, loans backed by bitcoin, inheritance planning solutions, tax-advantaged accounts among others.
Operating on a global scale (excluding countries under U.S. sanctions like Venezuela and Iran), Onramp caters not only to institutions but also to seasoned Bitcoin investors holding significant portions of their portfolios in this emerging asset class. Currently thriving with billions under its care and supported by a lean team exceeding 25 members according to Tanguna’s conversation with Bitcoin Magazine.
A Revolutionary Approach in Financial Security
Onramp seeks to fully capitalize on the groundbreaking shift towards enhanced financial security enabled by Bitcoin’s innovative features such as smart contracts — particularly multisignature scripts (or multisig). These tools offer high-security solutions native within the protocol applicable across various scenarios from payment networks like Lightning Network up through superior wealth protection surpassing traditional banking capabilities.
The historical landscape presented two primary methods for safeguarding wealth: individuals either hid gold within personal property akin today’s cash-under-the-mattress approach or entrusted reputable banks promising secure storage exchanging IOUs/titles over assets; thus birthing fiat currency system.
This paradigm inherently carried risks—exposure towards theft/home invasions versus susceptibility against fraud/invading forces necessitating trade-offs/diversification strategies among users until disrupted entirely via decentralized networks exemplified notably through Bitcoins’ widespread presence featuring more than 80k copies globally interconnected routing transactions circumventing bottlenecks/choke points leveraging unparalleled computing power known collectively Proof-of-Work/BTC mining enabling programmable transactions conditional validity based implementations commonly seen multisig requiring multiple independent signatures validate/process network-wide acceptance ensuring transaction integrity beyond imaginable limits traditionally experienced finance realms invoking former President Obama sentiments likening scenario possessing Swiss bank account pocket equivalent experiences
The innovation surrounding Multisig accounts parallels shared traditional banking setups differing fundamentally secured mathematically cryptographically atop decentralized global infrastructure creating unprecedented resilience political jurisdictional whims warfare natural disasters distributing keys custodians worldwide publicly auditable balances running full BTC copy home computer utilizing explorer capabilities unimaginable conventional finance environments illustrating superior alternatives comparative “Swiss bank account pocket” analogies ex-President Obama invoked contextually
“Bitcoin is akin having Swiss bank account pocket,”
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Diversifying Custody Solutions Globally
Ironic persistence pre-Bitcoin paradigms remains prevalent amongst majority users relying high-tech exchanges trust-me-bro platforms Coinbase substantial ETF treasury holdings United States alternatively consolidating coins hardware wallets controlled individually advanced leveraging cold storage protocols distributing geographically maintaining user control institutionally mirrored similar approaches Onramps’ level
Utilizing trio independent custodians dispersed internationally—BitGo USA Tetra Canada CoinCover UK—facilitates diversified risk mitigation transcending singular nation jurisdiction team device concentrations presenting viable alternative otherwise concentrated options mitigating exposure inherent centralized systems providing comprehensive security assurances globally distributed mechanisms challenging existing conventions improving scalability projections future trillion-dollar market caps implications ledgers unlikely accommodate effectively prompting creativity delivering promises forthcoming $200 trillion wealth opportunities inviting exploration new methodologies enhance global economic stability prospects fostering innovation sector progressivity sustainability efforts Juan Galt authored original post appearing initially published contextually relevant insights featured prominently showcasing institutional advancements initiated courtesy collaborative endeavors emphasizing strategic significance transformational potential anticipated evolution progressive landscape envisioned