What is the withdrawal process from my Multi-Institution Vault?

The withdrawal process is designed to ensure security, compliance, and client control. It involves coordination between three independent institutions—Onramp, BitGo, and Coincover—each playing a distinct role.

Institution 1: Onramp

The process begins when you initiate a withdrawal request through your Onramp Dashboard. From there:

• You’ll schedule a video verification call with a member of Onramp’s Client Success team.

• During the recorded call, you’ll be asked to verify your identity and confirm the details of your withdrawal.

• After the call, a separate internal team at Onramp reviews the recording and approves the request by quorum.

• Once approved, the transaction is partially signed (1 of 3) using a sharded key system in a secure offline environment.

• The partially signed transaction is then passed to BitGo for further processing.

Institution 2: BitGo

BitGo serves as a co-signer in the custody process:

• Your Onramp representative will coordinate a second video verification call with BitGo, where you’ll again confirm your identity and withdrawal details.

• BitGo reviews the call recording in line with their internal compliance and risk procedures.

• Once approved, BitGo signs the transaction (2 of 3) and broadcasts it to the Bitcoin network.

Institution 3: Coincover

Coincover acts as a backup keyholder and risk mitigation layer:

• Coincover does not participate in standard withdrawal reviews or transaction signing.

• Instead, Coincover’s role is to provide key recovery support and risk coverage in the event of an institutional failure, compromise, or client-side key loss.

This multi-step process ensures that no single institution can move your Bitcoin independently, adding resilience, transparency, and protection at every stage.