BitGo vs Sygnum Bank

BitGo4.5/5

VS

Sygnum Bank3.8/5

Feature	BitGoVisit	Sygnum BankVisit
Ratings
Our score	4.5/5	3.8/5
User rating	No reviews yet	No reviews yet
Security	4.5	3.5
Compliance	4.5	4.5
Asset support	4.5	3.0
Features	4.5	4.0
Support	4.5	4.0
Specs
KYC required	Yes	Not disclosed
Custody model	Qualified custodian, Multi-sig, MPC, HSM, Self-custody software	Qualified custodian
Clients	Institutions, Funds, Corporates, High-net-worth, Retail	Institutions, Funds, High-net-worth
Regulated	Yes	Yes
SOC 2 report	Yes	Not disclosed
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	Not disclosed
API access	Yes	Not disclosed
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)	FINMA banking and securities dealer license (Switzerland), MAS Capital Markets Services license (Singapore), MAS Major Payment Institution license (Singapore), ADGM FSRA Financial Services Permission (UAE), MiCA CASP authorization (Liechtenstein)
MPC	Yes	Not disclosed
Cold storage	Yes	Not disclosed
Qualified custodian	Yes	Yes
Company
Founded	2013	2018
Headquarters	United States	Switzerland
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	FINMA bank license since 2019, plus MAS, ADGM and MiCA authorizations Protect off-exchange custody passed $1 billion in assets in March 2026 MiCA passport to all 30 EEA states since June 2026 PwC ISAE 3402 Type 2 and ISAE 3000 assurance on the custody platform
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	Custody is bank-held, so clients depend on Sygnum's key management EU MiCA authorization arrived in June 2026, after a Q1 2025 target Board and executive changes at the 2026 annual meeting
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 and trading firms that want exchange collateral held at a bank, High-net-worth clients and family offices seeking bank custody for crypto, Banks adding digital asset services through a partner bank

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