BitGo vs Liminal Custody

BitGo4.5/5

VS

Liminal Custody3.0/5

Feature	BitGoVisit	Liminal CustodyVisit
Ratings
Our score	4.5/5	3.0/5
User rating	No reviews yet	No reviews yet
Security	4.5	2.5
Compliance	4.5	2.0
Asset support	4.5	3.5
Features	4.5	4.0
Support	4.5	3.5
Specs
KYC required	Yes	Yes
Custody model	Qualified custodian, Multi-sig, MPC, HSM, Self-custody software	MPC, Multi-sig, HSM, Self-custody software
Clients	Institutions, Funds, Corporates, High-net-worth, Retail	Institutions, Funds, Corporates, High-net-worth
Regulated	Yes	Not disclosed
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	1,200
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	Yes
Qualified custodian	Yes	Not disclosed
Company
Founded	2013	2021
Headquarters	United States	Singapore
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	1,200+ supported tokens across 20 documented chains MPC and multisig wallets plus a Securosys-based HSM vault on one platform SOC 2 Type II report and ISO/IEC 27001 and 27701 certifications Staking from cold wallets through Figment-powered validators
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the CFO is transitioning out Insurance excludes hot wallets and setups where clients hold keys	ADGM custody permission withdrawn in March 2025, and the Dubai entity is absent from VARA's license register Singapore custody entity is exempt under the Payment Services Act, not fully licensed Only insurance on record is a 2022 $50M key-loss policy shared among clients About $235M was stolen from a WazirX multisig wallet on the platform in 2024, with the two firms disputing the cause
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	Crypto exchanges running their own hot, warm and cold wallets, OTC desks and fintechs that need wallet-as-a-service with policy controls, Banks testing hybrid MPC and HSM cold custody

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