30 June 2025
Multisig Custody: What to Document When Three People Hold Keys
Documentation requirements specific to clubs using multisignature cold wallets, from signer roles to quorum procedures.
Multisig adds security and documentation complexity. Three keys mean three people who may rotate, travel, or lose devices. Your reserve evidence must account for all of them.
Document the quorum rule
State clearly whether your club uses two-of-three, three-of-five, or another configuration. Board members who are not signers should understand how many people must agree before funds move.
Signer role matrix
For each key holder, record:
- Full name and board role
- Primary contact method
- Backup signer designation if unavailable
- Device model and storage location (office safe, home safe, etc.)
- Date key was generated and which ceremony established the multisig
Ceremony specifics for multisig
Unlike single-signer wallets, multisig ceremonies may span hours or days as signers coordinate. Document each partial signature with timestamp. Note if any signer used a backup device.
Rotation events
When a signer leaves the club, document the key rotation ceremony with the same rigour as a fund transfer. The old key should be demonstrably replaced, not merely forgotten.
Common gap
Clubs configure multisig correctly but never write down the quorum policy. New directors discover the rule only when someone proposes a transaction. Address this in your custody log before the next attestation cycle.