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Coinbase Prime vs Sygnum Bank

How Coinbase Prime vs Sygnum Bank compare on our ratings, custodian specs, funding, pros and cons.

Coinbase Prime4.1/5
VS
Sygnum Bank3.8/5
Feature
Coinbase PrimeVisit
Sygnum BankVisit
Ratings
Our score4.1/53.8/5
User ratingNo reviews yetNo reviews yet
Security4.03.5
Compliance4.04.5
Asset support4.03.0
Features4.54.0
Support4.04.0
Specs
Custody modelNot disclosedQualified custodian
ClientsNot disclosedInstitutions, Funds, High-net-worth
Regulated Yes Yes
SOC 2 report YesNot disclosed
InsuranceUp to $320M commercial crime policy (insurer syndicate), shared by all Coinbase customersNot disclosed
Staking YesNot disclosed
API access YesNot disclosed
Licenses & chartersNYDFS limited purpose trust charter (US), NYDFS BitLicense (US), CSSF MiCA CASP authorization (Luxembourg)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)
Cold storage YesNot disclosed
Qualified custodian Yes Yes
Company
Founded20122018
HeadquartersUnited StatesSwitzerland
InvestorsNot disclosedNot 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
  • 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
  • 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
  • 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 forHedge 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 FIXHedge 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

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.