Anchorage Digital vs Fireblocks — Head-to-Head Custody Comparison

An independent, data-driven comparison of Anchorage Digital and Fireblocks across security, insurance, fees, regulatory compliance, and more.

Verdict

Quick Verdict

Anchorage Digital scores 7.9 vs Fireblocks's 6.4. Anchorage Digital leads in 4 of 8 categories.

Anchorage Digital is better suited for Institutions, Asset managers, Protocol treasuries. Fireblocks is better suited for Exchanges, Fintechs, Banks.

7.9

GoodCustody Score

Anchorage Digital

6.4

FairCustody Score

Fireblocks

Scores

Score Comparison

Weighted scores across all 8 custody criteria.

Criterion	Weight	Anchorage Digital	Fireblocks	Winner
Security	20%	9.5	9.0	Anchorage Digital
Insurance	15%	8.0	2.0	Anchorage Digital
Regulatory	15%	10.0	5.0	Anchorage Digital
Fee Transparency	10%	4.0	5.0	Fireblocks
Track Record	15%	8.0	8.5	Fireblocks
Withdrawal Flexibility	10%	7.0	8.0	Fireblocks
Reporting & Audit	10%	9.0	8.0	Anchorage Digital
Counterparty Diversification	5%	2.0	4.0	Fireblocks
Overall Score	100%	7.9	6.4	Anchorage Digital

Visual

Score Radar

Visual overlay of Anchorage Digital and Fireblocks across all categories.

Anchorage DigitalFireblocks

Deep Dive

Category-by-Category Analysis

A deeper look at how each provider performs in every scoring criterion.

Security (9.5 vs 9.0)

Anchorage Digital uses HSM + biometric authentication key management with Majority cold in cold storage and regular penetration testing. Compliance: SOC 2 Type 2. Incident history: No incidents.

Fireblocks uses MPC-CMP (no single private key exists) key management with Configurable (hot/warm/cold) in cold storage and regular penetration testing. Compliance: SOC 2 Type 2. Incident history: No incidents affecting client funds.

Insurance (8.0 vs 2.0)

Anchorage Digital offers Significant coverage (not publicly disclosed) via Major carriers. As an OCC-chartered bank, subject to bank-level regulatory capital requirements.

Fireblocks offers Not applicable directly — provides technology, not custodial services via N/A. Institutions using Fireblocks arrange their own insurance. Fireblocks provides the secure infrastructure layer.

Regulatory (10.0 vs 5.0)

Anchorage Digital holds OCC National Trust Bank Charter and is a qualified custodian operating in United States. First and only federally chartered crypto bank. Highest level of US regulatory approval for a digital asset custodian.

Fireblocks holds Technology provider — regulatory compliance is on the institution using Fireblocks and is not a qualified custodian operating in Global. Fireblocks itself is not a custodian. It provides technology to custodians and exchanges. Institutions must pair Fireblocks with a regulated entity.

Fee Transparency (4.0 vs 5.0)

Anchorage Digital charges Custom in annual custody fees with Custom per transaction. Fully custom pricing for institutional clients. No self-serve option.

Fireblocks charges SaaS subscription model in annual custody fees with Per-transaction fees vary per transaction. Fireblocks is infrastructure, not a direct custodian. Pricing is B2B SaaS. End users don't interact with Fireblocks directly.

Track Record (8.0 vs 8.5)

Anchorage Digital was founded in 2017 and is headquartered in San Francisco, CA. AUM: Not publicly disclosed (serves major institutions). Incident history: No incidents.

Fireblocks was founded in 2018 and is headquartered in New York, NY. AUM: $6T+ transferred through platform (not custodied directly). Incident history: No incidents affecting client funds.

Withdrawal Flexibility (7.0 vs 8.0)

Anchorage Digital withdrawal fees: Custom. Minimum account: Institutional only. Supported assets: Bitcoin, Ethereum, Multiple digital assets.

Fireblocks withdrawal fees: Network fees. Minimum account: Enterprise only. Supported assets: Bitcoin, Ethereum, 1,500+ tokens.

Reporting & Audit (9.0 vs 8.0)

Anchorage Digital: SOC compliance is SOC 2 Type 2. As a qualified custodian, it meets SEC reporting requirements.

Fireblocks: SOC compliance is SOC 2 Type 2. Not classified as a qualified custodian.

Counterparty Diversification (2.0 vs 4.0)

Anchorage Digital is a qualified custodian provider. Key management: Proprietary HSM-based system with biometric authentication and multi-layer approval workflows..

Fireblocks is a custody technology provider provider. Key management: MPC-CMP (Multi-Party Computation with Cryptographic Multi-Party protocol). No single point of compromise..

Fees

Fee Comparison

Side-by-side fee breakdown for Anchorage Digital and Fireblocks.

Fee Type	Anchorage Digital	Fireblocks
Setup Fee	Custom institutional pricing	Enterprise pricing
Annual Custody	Custom	SaaS subscription model
Transaction	Custom	Per-transaction fees vary
Withdrawal	Custom	Network fees

Anchorage Digital: Fully custom pricing for institutional clients. No self-serve option.

Fireblocks: Fireblocks is infrastructure, not a direct custodian. Pricing is B2B SaaS. End users don't interact with Fireblocks directly.

Features

Feature Comparison

Checklist of features across both providers.

Feature	Anchorage Digital	Fireblocks
1,500+ token support	✗	✓
API-first for developers	✗	✓
Advanced governance and approval workflows	✓	✗
Biometric authentication	✓	✗
DeFi access and Web3 connectivity	✗	✓
DeFi access from custody	✓	✗
Federally chartered digital asset bank	✓	✗
MPC key management (no single key ever exists)	✗	✓
Policy engine for governance workflows	✗	✓
Staking from custody	✓	✗
Trading and settlement	✓	✗
Treasury management	✗	✓
Used by 1,800+ institutions	✗	✓

Recommendation

Who Should Choose Which?

Anchorage Digital is better if you…

✓Are a institutions
✓Are a asset managers
✓Are a protocol treasuries
✓Are a government entities
✓Want: Only federally chartered digital asset bank — highest US regulatory status
✓Want: Trusted by Visa, Samsung, and other blue-chip institutions
✓Want: SOC 2 Type 2 compliant

Fireblocks is better if you…

✓Are a exchanges
✓Are a fintechs
✓Are a banks
✓Are a custodians building their own solutions
✓Want: Industry-leading MPC technology — no single private key ever exists
✓Want: Powers 1,800+ institutions and $6T+ in transfers
✓Want: SOC 2 Type 2 certified

FAQ

Frequently Asked Questions

Is Anchorage Digital or Fireblocks better for Bitcoin custody?

Anchorage Digital scores 7.9 vs 6.4 in our weighted Custody Score. Anchorage Digital leads in 4 of 8 scoring categories. However, the best choice depends on your specific needs: Anchorage Digital is best for Institutions and Asset managers, while Fireblocks suits Exchanges and Fintechs.

What is the difference between Anchorage Digital and Fireblocks?

Anchorage Digital is a qualified custodian provider, while Fireblocks is a custody technology provider provider. Anchorage Digital excels in Regulatory, whereas Fireblocks is strongest in Security.

How do Anchorage Digital and Fireblocks fees compare?

Anchorage Digital charges Custom annual custody fees with Custom transaction fees. Fireblocks charges SaaS subscription model annual custody fees with Per-transaction fees vary transaction fees.

Which is more secure, Anchorage Digital or Fireblocks?

Anchorage Digital scores 9.5/10 for security while Fireblocks scores 9.0/10. Anchorage Digital uses HSM + biometric authentication key management, and Fireblocks uses MPC-CMP (no single private key exists).