BitGo vs Bitpanda Custody

BitGo4.5/5

VS

Bitpanda Custody3.6/5

Feature	BitGoVisit	Bitpanda CustodyVisit
Ratings
Our score	4.5/5	3.6/5
User rating	No reviews yet	No reviews yet
Security	4.5	3.5
Compliance	4.5	4.0
Asset support	4.5	3.0
Features	4.5	4.0
Support	4.5	3.5
Specs
KYC required	Yes	Not disclosed
Custody model	Qualified custodian, Multi-sig, MPC, HSM, Self-custody software	Qualified custodian, HSM, Self-custody software
Clients	Institutions, Funds, Corporates, High-net-worth, Retail	Not disclosed
Regulated	Yes	Yes
SOC 2 report	Yes	Yes
Insurance	Up to $250M for assets where BitGo Bank & Trust holds all keys (Lloyd's of London and European market syndicate)	Not disclosed
Assets supported	1,770	Not disclosed
Staking	Yes	Yes
API access	Yes	Yes
Licenses & charters	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)	VARA VASP license for custody services (UAE), FMA MiCA CASP authorization (Austria), BaFin MiCA CASP authorization (Germany), MFSA MiCA CASP authorization (Malta), FCA cryptoasset registration (UK)
MPC	Yes	Not disclosed
Cold storage	Yes	Yes
Qualified custodian	Yes	Not disclosed
Company
Founded	2013	2018
Headquarters	United States	—
Investors	Valor Equity Partners, Redpoint Ventures, Public, Galaxy Digital +1	Not disclosed
Strengths and weaknesses
Pros	Up to $250M insurance from a Lloyd's and European market syndicate where BitGo holds all keys Qualified custody fully backed by cold storage, with over 95% of client assets held cold at the end of 2025 Licensed by the OCC, NYDFS, BaFin under MiCA, Dubai's VARA and Singapore's MAS Over 1,770 supported assets as of December 31, 2025	VARA custody license in Dubai plus MiCA custody authorizations in Austria, Germany and Malta Keys generated and used only in FIPS 140-2 Level 3 HSMs, with an air-gapped option Same stack available as custodial SaaS or as a non-custodial on-premises install SOC 2 Type II audit and ISO 27001-certified security management
Cons	Material weaknesses in internal control over financial reporting disclosed in its FY2025 10-K Securities class action filed in June 2026, and the Galaxy Digital suit was awaiting a ruling as of August 2026 COO left in October 2026 and the CFO is transitioning out Insurance excludes hot wallets and setups where clients hold keys	Named network support is limited to Bitcoin, Ethereum, Solana, BNB Smart Chain, XDC and EVM layer 2s HSM-only key model with no MPC signing The contracting entity and license vary with the client's jurisdiction Leadership turnover: the founder left the board in 2025 and the group CEO departs in 2027
Best for	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	Banks and brokers in the EU, UK and UAE that need a licensed custodian, Institutions that want to run HSM signing in their own data centers, Fintechs already using Bitpanda's investment or payments infrastructure

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