Onramp Raises $12.5M Series A To Scale Multi-Institution Bitcoin Custody Platform

"Onramp has raised $12.5 million in a Series A round led by Early Riders, valuing the bitcoin financial services firm at $135 million as it pushes to scale a custody model designed to meet institutional standards."

"The system is built with partners including BitGo, Coincover, and Tetra Trust, allowing for shared control structures that can span jurisdictions. The approach targets a long-standing tradeoff in digital asset custody. Investors have often had to choose between centralized platforms with counterparty risk and self-custody setups that require technical expertise and operational oversight."

"Onramp positions MIC as a middle path that removes single points of failure while keeping assets verifiable on-chain. Institutional traction has begun to follow. UK pension fund Cartwright selected Onramp as custodian for its bitcoin allocation, while the Bitcoin Policy Institute has endorsed multi-party custody frameworks for potential state-level bitcoin reserves."

"Chief executive Michael Tanguma said the company aims to build a full financial stack around bitcoin, including lending, retirement accounts, and treasury management tools. The firm launched Onramp Finance in April, offering brokerage services across all 50 states, cash accounts with rewards, a payments card, bitcoin IRAs, and acces"

Onramp raised $12.5 million in a Series A round led by Early Riders, valuing the company at $135 million. The firm reported more than $1 billion in assets under custody and zero security incidents since 2023. The funding supports expansion of Onramp Finance, a platform combining bitcoin custody, brokerage, and cash management, and it will fund new partnerships with banks, registered investment advisors, and fintech firms. The Multi-Institution Custody (MIC) model distributes key control across multiple regulated custodians instead of relying on a single entity or placing full responsibility on clients. MIC uses partners including BitGo, Coincover, and Tetra Trust to enable shared control structures across jurisdictions. The model targets reduced single points of failure while keeping assets verifiable on-chain, with institutional adoption including a UK pension fund and endorsement for multi-party custody frameworks.

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