Austin's Onramp Launches Onramp Business, a Bitcoin Account Built Around Named Users and Two-Person Withdrawals
The Austin bitcoin platform's new business account is a governance product as much as a custody one: named users, role-based permissions, a second signature on withdrawals, and a vault no single institution can move.
AUSTIN — Onramp, the Austin bitcoin financial services platform, launched Onramp Business today — an account for companies that hold bitcoin on the balance sheet, built around the question its chief executive says stopped boards cold: who holds the keys?
'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 Michael Tanguma, Onramp's founder and CEO, in the company's announcement. '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.'
The mechanics are the product. Accounts are free, with a 0.85 percent trade fee and bitcoin held by a qualified custodian; most companies are verified within a business day. Each account includes up to three named users with role-based permissions — an owner, an admin, or a view-only user — and approval policies under which a withdrawal waits for a second person to sign off, so no one person can move company bitcoin alone. Verification, user setup, funding and purchases happen inside the platform, with a complete audit trail.
Two tiers for larger holdings launch alongside it. Onramp Treasury, from $375 per month, moves a company's bitcoin into a vault held in its own name under the company's Multi-Institution Custody model — protected by three independent institutions drawn from a network of four (Onramp, BitGo, CoinCover and Tetra Trust), so no single institution can lose, move or use it — with up to five users, two vaults and a 0.65 percent trade fee. Onramp Enterprise serves funds, miners and large corporate treasuries by consultation. Companies already using Onramp, the announcement says, include Pacific Office Designs, Bitcoin News and Build Collateral Agent, LLC; businesses that activate Treasury by December 31 receive white-glove onboarding with no onboarding fee.
