BitGo vs Coinbase Prime

BitGo4.5/5

VS

Coinbase Prime4.1/5

Feature	BitGoVisit	Coinbase PrimeVisit
Ratings
Our score	4.5/5	4.1/5
User rating	No reviews yet	No reviews yet
Security	4.5	4.0
Compliance	4.5	4.0
Asset support	4.5	4.0
Features	4.5	4.5
Support	4.5	4.0
Specs
KYC required	Yes	Not disclosed
Custody model	Qualified custodian, Multi-sig, MPC, HSM, Self-custody software	Not disclosed
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)	Up to $320M commercial crime policy (insurer syndicate), shared by all Coinbase customers
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)	NYDFS limited purpose trust charter (US), NYDFS BitLicense (US), CSSF MiCA CASP authorization (Luxembourg)
MPC	Yes	Not disclosed
Cold storage	Yes	Yes
Qualified custodian	Yes	Yes
Company
Founded	2013	2012
Headquarters	United States	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	Custody at a NYDFS-chartered trust company that acts as a fiduciary under New York Banking Law SOC 1 Type 2 and SOC 2 Type 2 reports cover private key management controls Coinbase generally keeps no more than 2% of custodied assets in hot wallets REST, FIX and WebSocket APIs with TWAP and VWAP order types
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	The $320 million crime policy is shared by every Coinbase customer $50 million NYDFS penalty in 2023 over anti-money laundering and KYC failures The May 2025 data theft incident led to $311.2 million in cash payments The OCC charter for Coinbase National Trust Company was a conditional approval in April 2026
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	Hedge funds that want custody and execution in one account, ETF sponsors and asset managers that need a New York trust company as custodian, Trading desks that route orders over FIX

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