Fireblocks vs First Digital Trust

Fireblocks4.3/5

VS

First Digital Trust2.7/5

Feature	FireblocksVisit	First Digital TrustVisit
Ratings
Our score	4.3/5	2.7/5
User rating	No reviews yet	No reviews yet
Security	4.0	2.5
Compliance	4.0	2.5
Asset support	5.0	2.5
Features	4.5	3.0
Support	4.0	3.0
Specs
Custody model	Qualified custodian, MPC, HSM, Self-custody software	Not disclosed
Clients	Institutions, Funds, Corporates	Not disclosed
Regulated	Yes	Not disclosed
SOC 2 report	Yes	Not disclosed
Staking	Yes	Not disclosed
API access	Yes	Not disclosed
Licenses & charters	NYDFS limited purpose trust charter (US), FinCEN MSB registration (US), State money transmitter licenses in 37 states and DC (US)	Companies Registry TCSP license (Hong Kong), Trustee Ordinance trust company registration (Hong Kong)
MPC	Yes	Not disclosed
Cold storage	Yes	Not disclosed
Qualified custodian	Yes	Not disclosed
Company
Founded	—	2019
Headquarters	United States	Hong Kong
Investors	D1 Capital Partners, Spark Capital	Not disclosed
Strengths and weaknesses
Pros	Qualified custody through NYDFS-chartered Fireblocks Trust alongside self-custody software Thousands of assets across more than 200 blockchains SOC 2 Type 2 with zero material findings, plus ISO 27001 and CCSS QSP Level 3 Air-gapped MPC cold wallet and an HSM option (KeyLink) for banks	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	Key-loss claims from StakeHound and the Celsius plan administrator Licenses are US-only, with no MiCA or other non-US authorization listed Custom plans start at $36,000 a year	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	Exchanges and payment companies building in-house custody, Funds and RIAs that need a New York qualified custodian, Fintechs launching embedded or white-label wallets	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.

More comparisons