BitGo vs Hex Trust

BitGo4.5/5

VS

Hex Trust4.0/5

Feature	BitGoVisit	Hex TrustVisit
Ratings
Our score	4.5/5	4.0/5
User rating	No reviews yet	No reviews yet
Security	4.5	3.5
Compliance	4.5	4.0
Asset support	4.5	4.5
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	Qualified custodian, HSM
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 $25M in aggregate across all clients (custodian fraud, physical loss of private keys)
Assets supported	1,770	501
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)	MAS Major Payment Institution license (Singapore), VARA VASP license, custody (Dubai, UAE), VARA VASP license, broker-dealer (Dubai, UAE), Trustee Ordinance trust company registration (Hong Kong), Companies Registry TCSP license (Hong Kong)
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	501 assets across 31 blockchains on Hex Safe SOC 2 Type II and SOC 1 Type II reports, plus CSA STAR Level 2 MAS Major Payment Institution license and two active VARA licenses FIPS 140-3 Level 3 HSMs in air-gapped vaults behind data diodes
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 capped at $25 million in aggregate across all clients No EU license listed on the current Trust Center Newest listed SOC report dates from December 2023
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	Token foundations that want custody, staking and DeFi access from one provider, Institutions in Asia and the Gulf that need MAS- or VARA-licensed custody, High-net-worth clients of the Aura wealth platform

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.

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