Omnibus Wallet
An omnibus wallet is a shared blockchain wallet in which a custodian pools funds for multiple customers while tracking each customer's balance in its internal records.
✦ Key Insight
Omnibus structures explain why some exchanges require memos or destination tags and why your exchange balance may not correspond to a unique on-chain address.
✕ Common Misconceptions
An exchange balance is a claim recorded by the custodian, not necessarily a separate wallet containing only your assets.
Detailed Explanation
In Practice
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Address
An address is a public identifier used to specify a destination or account on a blockchain network.
Custodial
Custodial describes an arrangement in which a third party controls the private keys or operational access to crypto assets on a user's behalf.
Destination Tag
A Destination Tag is an additional numeric identifier commonly used by XRP services to identify the intended customer when multiple users share the same XRP Ledger address.
Memo
A memo is additional transaction data that some blockchain networks and custodial services use to identify, describe or route a payment.
Muxed Address
A Stellar muxed address combines a traditional Stellar account with a numeric identifier so services can distinguish users sharing the same underlying account.