TreasOS

Technical one-pager — US institutional Bitcoin treasury orchestration.

Profile us_institutional · Trebuoj Zepol · Proprietary · July 2026

Non-custodial Watch-only + PSBT
Client holds keys
Software license — not MSB / custody

What it is

TreasOS is an on-prem / client-cloud operating system for corporate Bitcoin treasuries: policies, maker-checker, RBAC, audit trail, UTXO inventory, and proof-of-reserves evidence. The server never holds seeds and never co-signs. Operators draft PSBTs; signers approve on hardware / air-gap; TreasOS broadcasts.

xpub / descriptor → watch-only sync → draft PSBT → policy + maker-checker → air-gap / HW sign → broadcast → audit log + exports

Architecture

Web — Next.js institutional UI (EN, USD display)
API — Rust backend · org RBAC · policy engine · MFA gates
Data — Postgres + Redis (client-owned)
Chain — Bitcoin Core (or client RPC) · UTXO indexer
Suite — optional PFME fees · WandAgg L2 ops (same USB pack)

Security model

Keys stay on client HW / HSM / cold — never on app servers
Segregation of duties: proposer ≠ approver ≠ broadcaster role model
MFA for privileged actions · license activation for production
Immutable-style audit trail · BIP-322 proof of reserves path
No yield / APY surface (removed from product)

US delivery package

Artifact	Detail
USB / offline installer	`TreasOS-USB-Cliente-USA` · Docker images + install scripts (Ubuntu / Windows)
Regional stamp	`REGIONAL_PROFILE=us_institutional` · locale `en` · accounting evidence `us_gaap_evidence`
Pilot ports	App `:3011` · API `:3012` (testnet first; mainnet under signed license)
Exports	Holdings / UTXO / movements / audit — for client US GAAP / auditor workpapers (e.g. ASU 2023-08 application by their advisors)

Deploy (preferred)

Client self-host / on-prem
Or client AWS / GCP / Azure
Vendor never holds keys

Integrations

Bitcoin RPC / descriptor wallets
Optional AML webhooks (client-owned)
ERP/close packs via JSON/CSV exports

Not included

Custody, co-signing, or key recovery as a service
MSB / money transmission
“GENIUS/CLARITY-compliant” claims
Tax engine or statutory filings

Evaluation path

Step	Environment	Outcome
1. Education demo	Regtest (hosted or guided)	Operators learn PSBT + policies (no client prod keys)
2. Paid technical evaluation	Client infra · testnet	Install ≤24h post-contract · full maker-checker path
3. Production license	Mainnet · client keys	License + MFA + client treasury policy in force

NY / BitLicense / vendor-hosted value movement: counsel before pitch. Canonical filter: docs/client/US_GO_NO_GO_CHECKLIST.md. Not legal advice.