An omnibus wallet is an account that allows multiple individual addresses to pool their balances and be a part of the wallet as a single entity. The wallet is managed by an organization that acts as a custodian of the asset to gain control over the client's funds. The purpose of an omnibus wallet is to consolidate multiple addresses into a single logical wallet for ease of management and cost efficiency.

Advantage: It allows easy funds consolidation and facilitates the following

Movement of funds to a Cold storage
Transaction Settlement where multiple parties are paying to multiple recipients.

Omnibus Addresses:

Finrock wallet system supports two types of addresses:

Isolated Address: An Isolated address will never share its funds with any other addresses of the wallet.

Omnibus Address: An Omnibus address will be a part of the Omnibus wallet to share its funds to a virtual pool.

All UTXO blockchains such as Bitcoin are natively Omnibus compatible.

Our wallet system provides an abstracted system for EVM chains, wherein a Virtual Omnibus wallet logically combines several omnibus addresses and the wallet internally manages the movement of assets between these addresses with the help of our proprietary AI system.

Gas Tank

An omnibus wallet usually needs a Gas tank to function properly. Read more about it here