Orbit Custody review
An institutional custody platform with a strong policy engine and credible controls, priced and structured for funds and companies and not for individuals.
What we liked
- Withdrawal policies enforced at the signing layer, not only in the application
- Client assets held in segregated on-chain addresses
- Independent controls report available to clients and prospects under NDA
- Responsive named account support
What we did not
- High minimum monthly fee puts it out of reach for small firms
- Slow to add support for newer networks and tokens
- Onboarding took more than three weeks in our test
Overview
Orbit Custody provides qualified-custodian-style storage for funds, trading firms and corporate treasuries. It is not a consumer product: there is no app store download and no retail sign-up. We assessed it through a test organisation account over six weeks, including policy configuration and several withdrawals.
Security
Orbit signs transactions using multi-party computation, with key shares held in separate environments so that no single system or employee holds a complete key. The important detail is that client-defined policies are checked as part of the signing process. A transfer outside policy cannot be signed even if the web application were compromised.
Policies cover address allowlists, per-transaction and daily limits, approver quorums and time delays. New addresses go through a test transfer and a 48-hour cooling-off period. Each client's assets sit in segregated on-chain addresses that the client can monitor independently. Orbit carries crime insurance; as with all such policies, the limit is shared across clients and is well below total assets under custody, so it should not be treated as a guarantee.
Fees
Pricing is a basis-point fee on assets under custody, with a minimum monthly charge that makes the service uneconomic below a few million in assets. Withdrawals within policy carry no extra fee beyond network costs. Pricing is not published and is negotiated per client.
Experience
The console is clear, and the approval screens do a good job of highlighting unusual destinations. Transfers within policy were broadcast within minutes. Onboarding was thorough and slow, at more than three weeks. Asset coverage is conservative: major networks are well supported, while several newer layer 2 networks were unavailable.
Verdict
A solid option for organisations that need enforceable controls and can meet the minimums. Firms that depend on newer networks should check coverage before starting the onboarding process.