Coinbase Prime vs First Digital Trust

Coinbase Prime4.1/5

VS

First Digital Trust2.7/5

Feature	Coinbase PrimeVisit	First Digital TrustVisit
Ratings
Our score	4.1/5	2.7/5
User rating	No reviews yet	No reviews yet
Security	4.0	2.5
Compliance	4.0	2.5
Asset support	4.0	2.5
Features	4.5	3.0
Support	4.0	3.0
Specs
Regulated	Yes	Not disclosed
SOC 2 report	Yes	Not disclosed
Insurance	Up to $320M commercial crime policy (insurer syndicate), shared by all Coinbase customers	Not disclosed
Staking	Yes	Not disclosed
API access	Yes	Not disclosed
Licenses & charters	NYDFS limited purpose trust charter (US), NYDFS BitLicense (US), CSSF MiCA CASP authorization (Luxembourg)	Companies Registry TCSP license (Hong Kong), Trustee Ordinance trust company registration (Hong Kong)
Cold storage	Yes	Not disclosed
Qualified custodian	Yes	Not disclosed
Company
Founded	2012	2019
Headquarters	United States	Hong Kong
Investors	Not disclosed	Not disclosed
Strengths and weaknesses
Pros	Custody at a NYDFS-chartered trust company that acts as a fiduciary under New York Banking Law SOC 1 Type 2 and SOC 2 Type 2 reports cover private key management controls Coinbase generally keeps no more than 2% of custodied assets in hot wallets REST, FIX and WebSocket APIs with TWAP and VWAP order types	Hong Kong trust company that holds client assets in segregated accounts Custodian of FDUSD reserves, with monthly attestations by an independent accounting firm Company states it holds SOC 1 Type 2 and SOC 2 Type 2 reports and ISO 27001 certification Pending Nasdaq listing requires an SEC registration statement with audited financials
Cons	The $320 million crime policy is shared by every Coinbase customer $50 million NYDFS penalty in 2023 over anti-money laundering and KYC failures The May 2025 data theft incident led to $311.2 million in cash payments The OCC charter for Coinbase National Trust Company was a conditional approval in April 2026	Hong Kong TCSP license is an AML license from the Companies Registry, without HKMA or SFC supervision Techteryx alleges about $456 million of TUSD reserves held by the firm were diverted to Aria Commodities DMCC Fiscal 2024 filings showed negative net assets of HK$101 million FDUSD fell nearly 10% below its peg after Justin Sun's April 2025 insolvency claims
Best for	Hedge funds that want custody and execution in one account, ETF sponsors and asset managers that need a New York trust company as custodian, Trading desks that route orders over FIX	Asian stablecoin issuers that need a reserve custodian, Fintechs and payment firms seeking a Hong Kong trustee, Family offices using trust and escrow services in Hong Kong

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.