Inventory of the top 10 crypto custody platforms: the asset defence battle for high-net-worth investors

As the crypto asset market matures, more and more high-net-worth investors are entrusting their crypto assets to third-party institutions to ensure the safety of their assets and comply with global compliance requirements. The emergence of crypto asset custody services has filled the security, liquidity, and compliance gaps faced by high-net-worth investors in crypto asset management.

But among the many custody platforms, which ones are worth trusting for high-net-worth investors? What are some successful application cases for us to learn from?

In this article, Portal Labs will take stock of the top 10 influential platforms in the crypto asset custody industry, helping you make informed choices in the complex market.

What is crypto asset custody?

Crypto asset custody, simply put, is to safeguard, manage, and increase the value of crypto assets through professional institutions. For high-net-worth investors, this is not only an asset protection tool, but also a core service that allows them to focus on strategic investments and optimize asset allocation.

The services provided by custody platforms to investors include:

Cold wallet storage: ensuring a high level of security of assets;
Compliance services: ensure that assets comply with international financial regulatory standards;
Liquidity management: Ensure that assets can be flexibly liquidated when needed;
Tax Optimization: Automatically generate tax reports to reduce tax burden.

Compared with using cold wallets for storage, the advantages of third-party custody are:

Security

Although cold wallets can technically prevent online hacking attacks, third-party custody provides more comprehensive security. Through professional custodians, assets are not only stored in cold wallets, but also enjoy multi-signature technology and insurance protection. In this way, investors not only avoid hacking, but also receive insurance compensation in extreme cases.

Compliance and Transparency

High-net-worth investors often face global compliance requirements, and custody platforms ensure that investors' assets comply with financial regulations in various countries through compliance measures such as KYC (Customer Identity Verification) and AML (Anti-Money Laundering). Additionally, the regular audit reports and transparent asset management provided by the custody platform allow investors to stay informed about their asset status, ensuring compliance and transparency in asset management.

Liquidity

tripartite custody platforms provide investors with a more convenient way to manage their assets. With custody platforms, investors can adjust their portfolios or monetize assets more quickly without worrying about cold wallet deposits. Custody platforms also often work with multiple exchanges and financial institutions to ensure the liquidity of assets and the ability to execute trades quickly when needed.

Tax-optimized

hosting platforms often provide automated tax report generation services to help investors avoid tax risks and reduce their tax burden. In this way, investors can not only ensure asset compliance, but also plan for tax issues on a global scale and avoid potential risks arising from personal management.

The complexity

and risk of managing crypto assets is not small for high-net-worth investors, and the 24/7 customer support and account recovery features provided by custody platforms ensure that investors can receive assistance at all times to avoid asset losses due to operational errors or technical issues.

Finally, custody platforms typically support the management of multiple crypto assets, including Bitcoin, Ethereum, DeFi tokens, and NFTs. This allows high-net-worth investors to manage diversified assets within the same platform without the need to diversify across multiple platforms, improving management efficiency.

Mainstream Crypto Custody Platforms

Now let's take stock of the 10 most influential crypto asset custody platforms and see their respective advantages and features.

BitGo

Founded: 2013

Service Highlights: BitGo is the industry's leading cold wallet custody platform, providing multi-signature and asset insurance services to ensure the highest security of crypto assets.

Service Target: BitGo provides custody services for several world-renowned funds and crypto exchanges, including Gemini and Coinbase.

Applicable Clients: Primarily serving large institutional investors and high-net-worth investors, especially those who require a high level of security and compliance.

BitGo has always been favored by global financial institutions and exchanges, occupying an important position in the field of crypto asset custody due to its excellent security guarantees, compliance support, and liquidity management.

Anchorage

Founded: 2017

Service Highlights: Anchorage is the world's first compliant-approved crypto asset custody platform, providing cold storage and compliant custody services.

Service Target: Anchorage provides custody services for several large asset managers, financial institutions, and large funds, such as Pantera Capital, BlockFi, etc.

Applicable Clients: Focuses on providing custody services to financial institutions, large asset managers, and institutional investors, especially suitable for clients with compliance requirements.

Anchorage has gradually become one of the most trusted custody platforms in the crypto industry by providing institutional investors with secure crypto asset custody services through its innovative technology and compliance certifications.

Fidelity Digital Assets

Founded: 2018

Service Highlights: Fidelity Digital Assets provides crypto asset custody services that combine traditional financial stability, supporting cold wallet storage and high-compliance services.

Target audience: Fidelity provides custody services to traditional financial institutions, family offices, and institutional investors, including Fidelity Asset Management and the New York Stock Exchange.

Applicable customers: long-term investors, financial institutions, family offices.

Fidelity Digital Assets, as part of the financial giant Fidelity, combines the advantages of traditional financial services to become the preferred crypto asset custody platform for institutional investors.

Coinbase Custody

Founded: 2018

Service Highlights: Coinbase Custody provides investors with cold storage and multi-signature services, ensuring the security of crypto assets and providing insurance protection.

Service Target: Coinbase Custody provides custody services to institutional investors, exchanges, and crypto funds, with clients including Pantera Capital, Grayscale, and others.

Applicable customers: Institutional investors, crypto exchanges, investment funds.

As a subsidiary of Coinbase, Coinbase Custody provides high-security and compliant custody services that are widely trusted by investment funds and exchanges worldwide.

Gemini Custody

Founded: 2015

Service Highlights: Gemini Custody provides custody services that comply with the regulatory requirements of the New York Financial Services Authority (NYDFS), supporting multi-signature and cold storage technologies.

Target audience: Gemini Custody serves clients such as crypto funds, large institutions, and financial services companies such as Galaxy Digital and VanEck.

Applicable customers: Institutional investors, crypto exchanges, investment funds.

Gemini Custody's compliance and high security make it one of the most trusted crypto asset custody platforms globally, especially in the United States.

Fireblocks

Founded: 2018

Service Highlights: Fireblocks provides industry-leading cold storage and multi-signature technology, and focuses on providing comprehensive asset management services to institutional investors.

Service Target: Fireblocks provides custody services to multiple financial institutions and crypto exchanges, with clients including Wellington Management, Revolut, and others.

Applicable customers: Financial institutions, crypto exchanges, institutional investors.

Fireblocks' technology combines security and flexibility to provide institutional clients with efficient asset custody and management services.

Trustology

Founded: 2018

Service Highlights: Trustology provides customized crypto asset custody services for individual and institutional investors, especially tailored for high-net-worth clients.

Clients: Trustology serves clients such as cryptocurrency exchanges and family offices such as Bitfinex.

Applicable customers: small and medium-sized investment institutions, high-net-worth individuals.

Trustology, committed to providing personalized services to high-net-worth clients with special needs, is an emerging force in the crypto asset custody industry.

Ledger Vault

Founded: 2018

Service Highlights: Ledger Vault is a custody platform for Ledger hardware wallets, providing cold wallet storage and multi-signature solutions to ensure asset security.

Target Audience: Ledger Vault provides custody services to crypto exchanges, financial institutions, and crypto funds.

Applicable customers: Crypto exchanges, financial institutions, crypto funds.

Ledger Vault has become the platform of choice for several crypto exchanges and financial institutions due to its hardware security technology and cold storage solutions.

Luno

Founded: 2013

Service Highlights: Luno provides crypto asset custody and trading services, supporting a variety of mainstream digital currencies to ensure asset security and liquidity.

Service Target: Luno's clients mainly include international investors and crypto exchanges.

Applicable customers: International investors, crypto exchanges, small crypto funds.

Luno provides crypto asset services in multiple markets around the world, especially in emerging markets with a high user base.

Bitstamp Custody

Founded: 2011

Service Highlights: Bitstamp Custody provides multi-signature and cold wallet custody services, focusing on providing high-security storage solutions for crypto assets for institutions and large investors.

Service Target: Bitstamp Custody provides custody services to institutional investors, large funds, and crypto exchanges, with clients including CoinShares and Xapo.

Applicable Clients: Primarily serving large institutional investors, crypto exchanges, and investment funds, especially those requiring a high level of security and compliance.

Bitstamp Custody leverages on the Bitstamp brand and its deep background in global financial markets to bring professional services and high credibility to the crypto asset custody field. Its custody services are widely favored by institutions and funds, making it an important choice for institutional investors.

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