BitGo vs Gemini Custody

BitGo4.5/5

VS

Gemini Custody3.8/5

Feature	BitGoVisit	Gemini CustodyVisit
Ratings
Our score	4.5/5	3.8/5
User rating	No reviews yet	No reviews yet
Security	4.5	4.0
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, MPC, Multi-sig, HSM
Clients	Institutions, Funds, Corporates, High-net-worth, Retail	Institutions, Funds, Corporates, High-net-worth
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)	NYDFS limited purpose trust charter (US), Nevada foreign independent trust company license (US), State money transmitter licenses (US), MAS Major Payment Institution license (Singapore)
MPC	Yes	Yes
Cold storage	Yes	Yes
Qualified custodian	Yes	Yes
Company
Founded	2013	2014
Headquarters	United States	US
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	Gemini Trust Company is a New York limited purpose trust company and qualified custodian under New York Banking Law Deloitte SOC 1 Type 2 and SOC 2 Type 2 examinations every year since 2019, plus ISO/IEC 27001:2022 Posted fees: 0.40% a year or $30 per asset per month, no minimum balance and no setup fee Opt-in SOL staking from segregated cold storage wallets with a validator of the client's choice
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	Insurance totals $125 million, dated March 1, 2024, with $25 million for the hot wallet Q2 2026 custodial fee revenue fell to $0.6 million amid institutional custody net outflows UK, EU and Australian operations were wound down in 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	US ETF issuers and asset managers that need a New York trust company custodian, Corporate treasuries and high-net-worth clients staking SOL from cold storage, Funds whose auditors ask for SOC 1 Type 2 and SOC 2 Type 2 reports

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