BitGo vs DFNS

BitGo4.5/5

VS

DFNS3.5/5

Feature	BitGoVisit	DFNSVisit
Ratings
Our score	4.5/5	3.5/5
User rating	No reviews yet	No reviews yet
Security	4.5	4.0
Compliance	4.5	2.5
Asset support	4.5	4.0
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	MPC, HSM, Self-custody software
Clients	Institutions, Funds, Corporates, High-net-worth, Retail	Institutions, Corporates
Regulated	Yes	No
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)	$15M per year cyber, E&O and crime cover for DFNS itself (Beazley, Munich Re); DFNS holds no client assets
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)	Not disclosed
MPC	Yes	Yes
Cold storage	Yes	Not disclosed
Qualified custodian	Yes	No
Company
Founded	2013	2020
Headquarters	United States	France
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	KPMG renewed its SOC 2 Type II report for 2024 with no exceptions noted Named third-party pentests and audits every year since 2021 Keys can run on MPC, HSMs, TEEs or bring-your-own-key, hosted or on premises Published pricing from $800 a year and a 30-day free testnet sandbox
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	Holds no license and takes no custody, so clients carry custody and regulatory duties The $15 million insurance is corporate cyber, E&O and crime cover for DFNS itself Marketing claims 100+ blockchains while the documentation names 59 networks
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 licensed custodians building in-house custody, Fintechs embedding wallets and stablecoin payments, Institutions that must keep keys in their own HSMs or data centers

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