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Bitcoin Asset Manager Onramp Unveils Multisig Platform, Adds BitGo to Custodians

Bitcoin financial services firm Onramp's asset management platform has opened for business with BitGo among its custodians. Austin, Texas-based Onramp launched a spot bitcoin (BTC) trust in April targeting high-net-worth investors. As with the trust, Onramp is harnessing multisignature (multisig) security, in which several custodians control the private keys to the bitcoin being held. The asset manager has tapped BitGo to perform this role alongside Coincover and Kingdom Trust, according to an announcement shared with CoinDesk on Thursday. The aim of this approach is to eliminate single points of failure and thus offer institutional investors and high-net-worth individuals reassurance when investing in bitcoin.

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