Coinbase Prime vs Ripple Custody

Coinbase Prime4.1/5

VS

Ripple Custody3.8/5

Feature	Coinbase PrimeVisit	Ripple CustodyVisit
Ratings
Our score	4.1/5	3.8/5
User rating	No reviews yet	No reviews yet
Security	4.0	4.0
Compliance	4.0	3.5
Asset support	4.0	3.5
Features	4.5	4.0
Support	4.0	4.0
Specs
Custody model	Not disclosed	Self-custody software, MPC, HSM
Clients	Not disclosed	Institutions, Funds, Corporates
Regulated	Yes	Not disclosed
SOC 2 report	Yes	Yes
Insurance	Up to $320M commercial crime policy (insurer syndicate), shared by all Coinbase customers	Not disclosed
Staking	Yes	Yes
API access	Yes	Yes
Licenses & charters	NYDFS limited purpose trust charter (US), NYDFS BitLicense (US), CSSF MiCA CASP authorization (Luxembourg)	NYDFS limited purpose trust charter (US), OCC national trust bank charter (US), NYDFS BitLicense (US), State money transmitter licenses (US), CSSF MiCA CASP authorization (Luxembourg), CSSF electronic money institution license (Luxembourg), FCA EMI license and cryptoasset registration (UK), MAS Major Payment Institution license (Singapore), CBI VASP registration (Ireland)
MPC	Not disclosed	Yes
Cold storage	Yes	Yes
Qualified custodian	Yes	No
Company
Founded	2012	2012
Headquarters	United States	United States
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	Keys stay in client-controlled HSMs or cloud, and Ripple cannot sign or access assets Deployable on premises, in private cloud or hybrid Bank users include BBVA, DBS, DZ Bank and Intesa Sanpaolo Parent holds an NYDFS trust charter and final OCC approval for a national trust bank
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	Ripple Custody does not act as a qualified custodian Coverage limited to 28 ledgers in Vault and 11 chains in Wallets Staking support differs between the docs and Ripple's announcements SEC case left Ripple with a $125 million civil penalty and an injunction
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	Banks running custody on their own HSMs, Fintechs adding white-label MPC wallets, Institutions tokenizing securities on the XRP Ledger

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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