Onramp Launches Business Bitcoin Accounts With Two-Person Withdrawal Approvals As Wrench Attacks Climb

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 climbed in the first half of the year.

The Austin firm announced the product for companies that want bitcoin on the balance sheet but have balked at leaving it with a single login, a single custodian or a single keyholder. The base account carries a 0.85% trade fee, holds bitcoin at a qualified custodian and is usually verified within a business day. It supports up to three users, including owner, admin and view-only roles, plus an audit trail. Two higher tiers, Onramp Treasury and Onramp Enterprise, launched alongside it.

"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, founder and CEO of Onramp. "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 recorded 52 physical attacks on bitcoin and crypto holders in the first half of 2026, up 33% from a year earlier. Recorded exposure tied to those incidents rose to about $124 million from $10.5 million. The report notes that a person who can move coins alone can be forced to do so under duress.

What the free account does and does not include

Onramp Business itself is not Multi-Institution Custody. Bitcoin in the free account sits in cold storage at a qualified custodian, the company's product page says. Multi-Institution Custody comes with Onramp Treasury, which starts at $375 a month, or $3,600 a year, cuts the trade fee to 0.65% and moves the coins into a vault held in the company's name.

That vault is protected by a 2-of-3 quorum of Onramp, Tetra Trust and CoinCover, so no single institution can lose, move or use the bitcoin. Treasury supports up to five users and two vaults, and includes migration help and continuity planning for leadership changes. A $500 onboarding fee is waived for companies that activate Treasury by Dec. 31. Onramp Enterprise, aimed at funds, miners and large corporate treasuries, is priced by consultation.

Onramp has offered Multi-Institution Custody for individuals and institutions since 2023, with a network that also includes BitGo. The firm raised $12.5 million in a Series A in May at a $135 million valuation and has said it holds more than $1 billion in bitcoin under the model, with no security incidents since it was founded. It also launched Onramp Finance in April, combining cash, bitcoin brokerage, IRAs and gold.

A crowded treasury trade, and a key-person problem

Public companies have turned bitcoin into a balance-sheet asset at a scale that would have been unusual a few years ago. Strategy (MSTR), the largest corporate holder, now holds 850,364 bitcoin after its latest weekly purchase. For smaller firms, the harder question has often been operational: who holds the keys, what happens when that person leaves, and whether a single compromised login or a single coerced employee can move the whole position.

Pacific Office Designs and Build Collateral Agent are already using Onramp for company bitcoin, the announcement said.

"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 test now is whether boards that liked the asset but rejected the custody options will treat two-person approvals, and a three-institution vault, as enough of an answer.