Anchorage Digital vs BitGo: Banking and Custody Infrastructure
Anchorage Digital and BitGo provide federally regulated qualified custody for institutions, funds, and corporate treasuries. Anchorage operates Anchorage Digital Bank, N.A., which secured the first OCC national bank charter for a digital asset bank in January 2021. BitGo, established in 2013, operates an OCC-chartered national trust bank and trades publicly on the New York Stock Exchange under ticker BTGO.
Their architectures differ. BitGo uses multi-signature cold storage alongside multi-party computation hot wallets, pairing them with up to $250 million in insurance coverage against loss or theft. Anchorage Digital relies on hardware security modules and quorum-based signing policies, alongside its Atlas settlement network. Digital assets at Anchorage carry no FDIC or SIPC insurance, though fiat cash balances receive pass-through coverage. BitGo reports more than $100 billion in custodial assets, while Anchorage provides direct wires and ACH accounts.
Quick verdict
BitGo operates as a publicly traded company on the NYSE under ticker BTGO and offers up to $250 million in cold storage insurance. Anchorage Digital pairs custody with native fiat rails, offering ACH and wire capabilities through its chartered commercial bank.
Choose Anchorage Digital if your organization requires direct USD banking rails alongside digital asset custody. The platform suits funds that value hardware security module quorums, non-omnibus onchain settlement through Atlas, and broader chain support covering ecosystems like Sui, Aptos, Solana, and Cosmos.
Choose BitGo if you need segregated cold storage with explicit insurance coverage up to $250 million. Its multi-signature architecture, EVM Keyring gas management, and off-exchange Go Network settlement support institutional trading desks.
| Feature | ||
|---|---|---|
| Ratings | ||
| Our score | 4.1/5 | 4.5/5 |
| User rating | No reviews yet | No reviews yet |
| Security | 4.0 | 4.5 |
| Compliance | 4.0 | 4.5 |
| Asset support | 4.0 | 4.5 |
| Features | 4.5 | 4.5 |
| Support | 4.0 | 4.5 |
| Specs | ||
| KYC required | Not disclosed | Yes |
| Custody model | Qualified custodian, HSM, Self-custody software | Qualified custodian, Multi-sig, MPC, HSM, Self-custody software |
| Clients | Institutions, Funds, Corporates, High-net-worth | Institutions, Funds, Corporates, High-net-worth, Retail |
| Regulated | Yes | Yes |
| SOC 2 report | Yes | Yes |
| Insurance | Not disclosed | Up to $250M for assets where BitGo Bank & Trust holds all keys (Lloyd's of London and European market syndicate) |
| Assets supported | Not disclosed | 1,770 |
| Staking | Yes | Yes |
| API access | Yes | Yes |
| Licenses & charters | OCC national trust bank charter (US), NYDFS BitLicense (US), MAS Major Payment Institution license (Singapore), NFA introducing broker registration (US) | OCC national trust bank charter (US), NYDFS limited purpose trust charter (US), FinCEN MSB registration and state MTLs (US), SEC broker-dealer registration (US), BaFin MiCA CASP authorization (Germany), VQF SRO membership under FINMA oversight (Switzerland), VARA custody license (Dubai, UAE), VARA broker-dealer license (Dubai, UAE), MAS Major Payment Institution license (Singapore), FINTRAC foreign MSB registration (Canada) |
| MPC | Not disclosed | Yes |
| Cold storage | Yes | Yes |
| Qualified custodian | Yes | Yes |
| Company | ||
| Founded | 2017 | 2013 |
| Headquarters | United States | United States |
| Investors | Tether, KKR, GIC | Valor Equity Partners, Redpoint Ventures, Public, Galaxy Digital +1 |
| Strengths and weaknesses | ||
| Pros |
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| Cons |
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| Best for | ETF issuers and asset managers that want a federally chartered custodian, Funds that stake or vote without moving assets out of custody, Trading firms using Binance with collateral held off-exchange | Funds and ETF issuers needing a long asset list and published insurance, Global firms that want licensed entities in the US, EU, Dubai and Singapore, Exchanges and fintechs building wallets on an API |
Highlighted cells show the stronger value in each row. Data comes from each provider's site and public sources; check details before you sign up.
FAQ
Do Anchorage Digital and BitGo hold federal banking charters?
Yes, both custodians operate federally chartered entities under OCC oversight. Anchorage Digital holds an OCC national bank charter through Anchorage Digital Bank, N.A., while BitGo operates BitGo Bank & Trust, National Association.
Which custodian provides insurance on digital assets?
BitGo provides up to $250 million in insurance coverage for digital assets held in segregated cold storage. Anchorage Digital does not insure digital assets under FDIC or SIPC programs, though FDIC pass-through insurance applies to fiat USD balances in partner bank accounts.
How do their custody technologies differ?
Anchorage Digital uses hardware security modules combined with quorum-based signing policies. BitGo relies on multi-signature security for cold storage and multi-party computation for hot wallets.
Can both platforms handle off-exchange settlement?
Yes, each platform operates an institutional settlement service. Anchorage Digital uses Atlas for real-time on-chain settlement without omnibus accounts, whereas BitGo provides off-exchange settlement and collateral routing through the Go Network.