Fireblocks vs Tholos: Self-Custody, Policy Controls, Chain Support, and Treasury Ops

If you’re evaluating Fireblocks vs Tholos, you’re likely facing a critical operational decision: selecting the custody platform your team will depend on for secure treasury management, multi-chain operations, and institutional-grade controls. This comparison is designed for teams that move fast—funds, trading firms, DAOs, protocols, and finance teams that need robust security without operational friction.

At a Glance

Fireblocks remains a standard for enterprises seeking a broad, managed platform with traditional vendor relationships and formal deployment cycles.

Tholos delivers self-custodial multi-signer MPC designed for operational speed:

• Self-serve setup with live deployment in hours, not weeks
• Composable policies you can modify in minutes as workflows evolve
• True multi-chain operations from a single dashboard
• Integrated stablecoin payments with optional fiat on/off ramps and OTC desk access

Feature Comparison

Capability	Tholos	Fireblocks
Setup & Deployment	Self-serve; hours to first transaction	Multi-week enterprise onboarding
Custody Model	Self-custodial MPC; you retain signing control	Provider-controlled account structure
Policy Flexibility	Composable rules; change in minutes	Robust but rigid governance frameworks
Multi-Chain Support	Built for multi-chain; rapid chain addition	Broad support, heavier integration process
Treasury Operations	Native stablecoin payments + fiat/OTC rails	Part of broader institutional stack

Custody Model: Who Controls Your Assets?

The fundamental question in digital asset custody is simple: who can sign transactions, and who can block them?

Tholos Vault Options

Standard Vaults (Maximum Self-Custody)

• You hold all key shares
• No third-party signing authority
• Tholos cannot sign on your behalf
• Ideal for assets requiring highest security with minimal movement

Flex Vaults (Operational Flexibility)

• Tholos holds one fewer key share than required for transaction approval
• Tholos cannot sign alone—you maintain majority control
• Enables asynchronous workflows and advanced policy controls
• Best for active treasury operations requiring speed and rich governance

Key Distinction: Both vault types ensure Tholos never has unilateral signing capability. You choose based on operational needs, not security tradeoffs.

Treasury Operations: The Day-to-Day Reality

Most custody comparisons over-index on cryptography and under-index on operational practicality. Real treasury work involves dozens of small transactions, approvals between meetings, and workflows that must adapt as teams scale.

Tholos: Built for Self-Serve Operations

Tholos functions as modern treasury software, not just a security layer:

• Web dashboard for transaction proposal and management
• Mobile app for signer approvals anywhere
• Clear “propose → review → approve → execute” workflow
• Built-in multi-signer controls for dApp interactions

This approach mirrors corporate finance tooling: centralized operations with distributed approvals, enforced through code rather than PDF checklists.

Fireblocks: Enterprise Platform Experience

Fireblocks offers comprehensive capabilities but often requires more configuration and back-and-forth to evolve workflows. Organizations comfortable with enterprise vendor motions and formal change cycles will find it familiar. Teams prioritizing self-serve speed may encounter friction.

Policy Controls: Thresholds vs. Conditional Governance

Basic multi-signature thresholds are not governance. True governance requires conditional rules that match how your organization actually spends.

Real-World Policy Examples

• “Transactions under $5k require 2 approvals; over $50k require 4”
• “Only send to allowlisted recipients”
• “New recipients require additional approval”
• “Restrict DeFi interactions by vault”
• “Apply different policies for exchange withdrawals vs. vendor payments”

Tholos: Composable Policy Engine

Tholos policies are designed for rapid iteration. Modify conditional logic without waiting for vendor support cycles. This matters because effective policies emerge through refinement—static rules become ignored rules.

Multi-Chain Support: One Dashboard, Every Chain

Multi-chain operations often devolve into “10 wallets for 10 chains,” creating operational risk and visibility gaps.

Tholos: Native Multi-Chain Architecture

Tholos treats multi-chain as the default state:

• Single interface for EVM, non-EVM, and Cosmos chains
• Consistent workflows across networks
• Rapid integration of new chains based on customer needs

Critical Evaluation Question: When you need a new chain supported, is it a prioritized feature request or a months-long process? Tholos adds chains quickly so customers aren’t blocked by market movements.

Payments & Liquidity: Beyond Simple Custody

Treasury teams don’t just hold assets—they operate with them. This includes:

• Stablecoin vendor payments with proper controls
• In-dashboard asset swaps with multi-signer approval
• Same-day fiat on/off ramps directly to your vault
• OTC desk access for large trades without slippage

Key Advantage: These workflows remain within your policy-controlled environment. You don’t sacrifice custody controls when moving from holding to operating.

Total Cost of Ownership: The Time Tax

The hidden cost of custody solutions is the time tax—the organizational friction required to adopt, modify, and operate the platform.

Tholos minimizes this through:

• Self-serve trial and onboarding
• No long-term contracts required to start
• Instant policy changes without vendor tickets
• Transparent pricing that scales with usage

Decision Framework: Which Platform Fits Your Organization?

Choose Fireblocks if you need:

• A broad enterprise platform with managed services
• Traditional vendor relationships and procurement processes
• Formal change management cycles
• Standardized institutional features

Choose Tholos if you need:

• Self-custodial MPC where you retain signing control
• Self-serve deployment and ongoing operation
• Composable policies that evolve with your workflows
• True multi-chain operations without tool sprawl
• Integrated payments and liquidity within custody controls

Due Diligence Checklist for MPC Providers

Custody & Control

1. Who holds key shares in our specific configuration?
2. Can the provider reach signing threshold without your participation?
3. Can the provider block your transactions?
4. What are the offline scenarios for both parties?
5. What’s the device loss recovery process?

Operations

6. How do you safely onboard/offboard signers?
7. How quickly can you modify policies?
8. Can you enforce recipient allowlists and value-based spending limits?

Multi-Chain

9. What does “chain support” include (hold, send, dApp connectivity)?
10. What’s the timeline for adding a new chain?

Audit & Compliance

11. Is there a complete audit trail of all actions?
12. Can you export transaction data for reconciliation?

Frequently Asked Questions

Is Tholos a direct Fireblocks alternative?

Yes—particularly for teams seeking self-custodial MPC with rapid deployment, flexible policies, and true multi-chain support without enterprise overhead.

Does Tholos support strict self-custody?

Standard Vaults provide complete self-custody (you hold all key shares). Flex Vaults offer operational flexibility while maintaining your majority control.

What’s the primary day-to-day difference?

The self-serve experience: creating vaults, managing signers, updating policies, and operating across chains without vendor dependencies.

Can Tholos handle stablecoin vendor payments?

Yes. Teams use Tholos for stablecoin invoice settlement with full multi-signer governance, optionally paired with fiat rails and OTC services.

Next Steps

To explore whether Tholos fits your treasury and custody requirements, you can start with a self-serve trial or schedule a demo to discuss your specific needs.

Create Your First Vault | Book a Demo

For more context on custody technology, read our guide on MPC vs Multisig or learn about Tholos Standard vs Flex Vaults.