This table provides a comprehensive comparison of digital asset custody providers. These custodians maintain full control of clients' private keys/shares and assets, with clients initiating transactions that are signed and executed by the custodian. Many operate under specific regulatory frameworks and licenses, offering institutional-grade custody services with added controls around transaction authorization and key security, and enhanced compliance and oversight. Use this resource to evaluate custody solutions for institutional requirements.
Why Choose a Digital Asset Custodian?
Custodians offer institutional investors with secure infrastructure by taking full control of clients' private keys and assets, enabling controlled transaction workflows and key management. These providers hold licenses from regulatory bodies like the OCC (Office of the Comptroller of the Currency), NYDFS (New York Department of Financial Services), and international regulators, adding protection to your digital assets under established financial frameworks.
Key Regulatory Licenses Compared:
- BitLicense (New York): BitGo, Anchorage Digital, Coinbase Custody
- MiCA Compliance (EU): BitGo, Crypto.com
- OCC Charter: Anchorage Digital (first federally chartered digital asset bank)
- VASP Licenses: BitGo, Crypto.com, Hex Trust, Zodia Custody
| Company | Founded | Key Type | M of N Signing Policy | Policy Management Features | Blockchain Networks | Supported Tokens | DeFi Access | Exchange Integrations | Disaster Recovery | Off-Exchange Settlement | API Access | Certifications* | Licenses* | Insurance | Restricted Jurisdictions | Price Based On |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Anchorage Digital | 2017 | HSM | Flexible (2/3 minimum) | Flexible Admin Quorums, Time- or amount-locks | Most Networks | Most Tokens | ✓ | No | Internal, External | ✓ | ✓ | SOC 1 Type 2, SOC 2 Type 2 | MPI, OCC Charter, BitLicense | ✓ | ? | AUC |
| Aplo | 2019 | MPC | Flexible | Flexible Admin Quorums, Time- or amount-locks | Most Networks | Most Tokens | ✓ | 12 Exchanges | Internal | No | ✓ | SOC 1 Type 2 | DASP | ✓ | USA, FATF | AUC/Volume |
| BitGo | 2013 | Multi-Sig | Flexible (2/3) | Flexible Admin Quorums, Time- or amount-locks | Most Networks | Most Tokens | ✓ | INX, Bitstamp, Finery Markets | Internal, External | ✓ | ✓ | SOC 1 Type 2, SOC 2 Type 2 | MiCA, VQF, VASP, BitLicense, SD Custodian | ✓ | Sanctioned countries | AUC |
| Cactus Custody | 2019 | HSM | Flexible | Flexible Admin Quorums, Time- or amount-locks | Most Networks | Most Tokens | ✓ | Bitget | Internal | ✓ | ✓ | SOC 2 Type 2, ISO 27001, ISO 9001 | ? | ✓ | Iran, N. Korea, Russia, USA, Cuba, Syria | AUC |
| Coinbase Custody | 2018 | MPC | ? | ? | Most Networks | Most Tokens | ✓ | ✓ | ? | ? | ✓ | SOC 1 Type 2, SOC 2 Type 2 | BitLicense | ✓ | ? | ? |
| Crypto.com | 2016 | MPC | ? | ? | Most Networks | Most Tokens | ✓ | ✓ | ? | ? | ✓ | SOC 1 Type 1, SOC 2 Type 1 | MPI, MiCA, VASP, DCM, EMI, PSP | ✓ | ? | ? |
| Hex Trust | 2018 | HSM | ? | ? | ? | ? | ✓ | ? | ? | ✓ | ✓ | SOC 1 Type 2, SOC 2 Type 1, SOC 2 Type 2 | MPI, VASP, DASP, TCSP | ✓ | ? | ? |
| Liminal | 2021 | MPC, Multi-sig | 3/5 | Flexible Admin Quorums, Time- or amount-locks | Most Networks | Most Tokens | No | ✓ | Internal | No | ✓ | SOC 2 Type 2 | ? | ✓ | Sanctioned countries | AUC/Volume |
| Prometheum | 2017 | Multi-sig, Multi-layer + HSM | Flexible (3/5 minimum) | Flexible Admin Quorums, Time- or amount-locks | ETH (More coming) | ETH, ARB, GRT, UNI | No | No | Internal, External | No | ✓ | SOC 2 Type 1 & 2 | SPBD | ✓ | ? | AUC/Volume (Free with ATS) |
| Tungsten | 2023 | MPC, HSM | Flexible | Flexible Admin Quorums, Time- or amount-locks | Most Networks | Most Tokens | ✓ | On Request | Internal, External | ✓ | On Request | SOC 2 Type 2, ISO 27001 | FSP | ✓ | ? | AUC/Volume |
| Zodia Custody | 2018 | HSM, MPC | Flexible | Flexible Admin Quorums, Time- or amount-locks | Most Networks | Most Tokens | ✓ | Deribit, Bitfinex, BYBIT, LMAX Digital | Internal, External | ✓ | ✓ | SOC 1 Type 1, SOC 1 Type 2, ISO 27001 | TCSP, VASP | ✓ | ? | AUC/Volume |
*All Licenses & ISO Certifications have been verified by DigOpp where possible
? indicates information not yet available or confirmed
Note: This comparison focuses on custody providers operating under specific regulatory frameworks and is based on publicly available information, direct provider communications, and information provided by the service providers themselves. Regulatory status and licenses are subject to change. Always verify current regulatory standing directly with providers and relevant authorities. This information should not be relied upon as the sole basis for custody provider selection. Last updated: June 2024.
? indicates information not yet available or confirmed
Note: This comparison focuses on custody providers operating under specific regulatory frameworks and is based on publicly available information, direct provider communications, and information provided by the service providers themselves. Regulatory status and licenses are subject to change. Always verify current regulatory standing directly with providers and relevant authorities. This information should not be relied upon as the sole basis for custody provider selection. Last updated: June 2024.
Frequently Asked Questions
What is a digital asset custodian?
Digital asset custody refers to cryptocurrency storage services provided by companies that store and manage client's private keys and digital assets on their behalf, usually under specific financial regulatory frameworks. These custodians hold licenses from banking regulators, securities commissions, or specialized digital asset regulatory bodies, offering institutional-grade security and compliance.
Which custody providers have BitLicense?
BitGo, Anchorage Digital, and Coinbase Custody hold New York's BitLicense, the most stringent digital asset license in the United States. This license allows them to operate as trust companies for digital assets in New York.
What is MiCA compliance for custody providers?
MiCA (Markets in Crypto-Assets) is the EU's comprehensive regulatory framework for digital assets. Custody providers like BitGo and Crypto.com with MiCA compliance can offer services across all EU member states under a single regulatory framework.
How do licensed custodians differ from non-licensed ones?
Licensed custodians operate under banking or financial services regulations, require regular audits, maintain specific capital requirements, and often provide insurance coverage. They're subject to oversight by government regulators, making them suitable for institutional investors with compliance requirements.
Regulatory Licenses Explained
MPI: Money Services Business (MSB) license from various states
OCC Charter: Office of the Comptroller of the Currency national banking charter (US)
BitLicense: New York State Department of Financial Services virtual currency license
SPBD: Special Purpose Depository Institution (various US states)
ATS: Alternative Trading System license
FSP: Financial Services Provider license
TCSP: Trust or Company Service Provider license
VASP: Virtual Asset Service Provider license
MiCA: Markets in Crypto-Assets regulation compliance (EU)
VQF: Self-Regulatory Organization for Financial Services license (Switzerland)
SD Custodian: South Dakota Custodial Trust Company charter
DASP: Digital Asset Service Provider license
DCM: Derivatives Clearing Member license
EMI: Electronic Money Institution license
PSP: Payment Service Provider license