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

AI summary of the source article

Onramp has launched Onramp Business, a business bitcoin account featuring role-based permissions and two-person withdrawal approvals. The company also introduced higher-tier services, Onramp Treasury and Onramp Enterprise, offering multi-institution vault custody.

Why it matters

According to CEO Michael Tanguma, "Onramp Business gives a company the same controls its bank account already has: named users, approvals on withdrawals, and a record of everything," addressing situations where businesses "stall the moment their board asked who holds the keys."

Key facts

• Onramp Business is a free base account with a 0.85% trade fee that supports up to three users and holds bitcoin at a qualified custodian.
• Onramp Treasury starts at $375 per month and utilizes a 2-of-3 multi-institution vault quorum involving Onramp, Tetra Trust, and CoinCover.
• The launch comes as recorded physical attacks on cryptocurrency holders reached 52 in the first half of the year, with tied exposure rising to roughly $124 million.