BitGo vs Komainu — Head-to-Head Custody Comparison

An independent, data-driven comparison of BitGo and Komainu across security, insurance, fees, regulatory compliance, and more.

Verdict

Quick Verdict

BitGo scores 8.2 vs Komainu's 7.0. BitGo leads in 7 of 8 categories.

BitGo is better suited for Institutions, Exchanges, Funds. Komainu is better suited for Japanese institutions, European institutions, Banks.

8.2

Very GoodCustody Score

BitGo

GoodCustody Score

Komainu

Scores

Score Comparison

Weighted scores across all 8 custody criteria.

Criterion	Weight	BitGo	Komainu	Winner
Security	20%	9.0	8.5	BitGo
Insurance	15%	8.5	7.0	BitGo
Regulatory	15%	9.0	8.0	BitGo
Fee Transparency	10%	6.5	4.5	BitGo
Track Record	15%	9.0	6.5	BitGo
Withdrawal Flexibility	10%	8.0	6.5	BitGo
Reporting & Audit	10%	8.5	7.5	BitGo
Counterparty Diversification	5%	3.0	3.5	Komainu
Overall Score	100%	8.2	7	BitGo

Visual

Score Radar

Visual overlay of BitGo and Komainu across all categories.

BitGoKomainu

Deep Dive

Category-by-Category Analysis

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

Security (9.0 vs 8.5)

BitGo uses Multi-signature + MPC key management with Majority cold in cold storage and regular penetration testing. Compliance: SOC 2 Type 2. Incident history: No major incidents. Minor service disruptions reported..

Komainu uses Ledger Vault enterprise custody key management with Majority cold in cold storage and regular penetration testing. Compliance: SOC 2. Incident history: No incidents.

Insurance (8.5 vs 7.0)

BitGo offers $250M policy limit via Lloyd's of London syndicate. Covers assets in hot and cold storage against theft and security breaches. Institutions should confirm per-asset limits and exclusions.

Komainu offers Institutional coverage via Via Nomura/partners. Backed by Nomura — Japan's largest investment bank.

Regulatory (9.0 vs 8.0)

BitGo holds South Dakota Trust Charter, New York BitLicense and is a qualified custodian operating in United States. BitGo Trust Company is a qualified custodian regulated by the South Dakota Division of Banking.

Komainu holds JFSC registered (Jersey) and is not a qualified custodian operating in Jersey / Asia / Europe. Regulated in Jersey. Nomura provides institutional credibility.

Fee Transparency (6.5 vs 4.5)

BitGo charges Based on AUM — tiered pricing in annual custody fees with Varies per transaction. Enterprise pricing available. BitGo Go for smaller clients.

Komainu charges Custom in annual custody fees with Custom per transaction. Nomura + Ledger + CoinShares joint venture.

Track Record (9.0 vs 6.5)

BitGo was founded in 2013 and is headquartered in Palo Alto, CA. AUM: $64B+ in custody. Incident history: No major incidents. Minor service disruptions reported..

Komainu was founded in 2018 and is headquartered in St. Helier, Jersey. AUM: Not publicly disclosed. Incident history: No incidents.

Withdrawal Flexibility (8.0 vs 6.5)

BitGo withdrawal fees: Network fees. Minimum account: Contact for pricing. Supported assets: Bitcoin, Ethereum, 700+ tokens.

Komainu withdrawal fees: Network fees. Minimum account: Institutional only. Supported assets: Bitcoin, Ethereum, Multiple assets.

Reporting & Audit (8.5 vs 7.5)

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

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

Counterparty Diversification (3.0 vs 3.5)

BitGo is a qualified custodian provider. Key management: Multi-signature (2-of-3) with optional MPC. Keys split between client and BitGo..

Komainu is a qualified custodian provider. Key management: Ledger Vault technology with Nomura institutional standards..

Fees

Fee Comparison

Side-by-side fee breakdown for BitGo and Komainu.

Fee Type	BitGo	Komainu
Setup Fee	Varies by plan	Custom
Annual Custody	Based on AUM — tiered pricing	Custom
Transaction	Varies	Custom
Withdrawal	Network fees	Network fees

BitGo: Enterprise pricing available. BitGo Go for smaller clients.

Komainu: Nomura + Ledger + CoinShares joint venture.

Features

Feature Comparison

Checklist of features across both providers.

Feature	BitGo	Komainu
700+ token support	✓	✗
Asia/Europe institutional focus	✗	✓
Bank-grade compliance	✗	✓
CoinShares crypto expertise	✗	✓
DeFi and Web3 access	✓	✗
Governance frameworks	✗	✓
Hot and cold storage options	✓	✗
Ledger Vault technology	✗	✓
Multi-signature wallets (2-of-3)	✓	✗
Nomura-backed	✗	✓
Policy engine for governance workflows	✓	✗
Portfolio and tax reporting	✓	✗
Staking services	✓	✗

Recommendation

Who Should Choose Which?

BitGo is better if you…

✓Are a institutions
✓Are a exchanges
✓Are a funds
✓Are a fintechs
✓Want: Industry-leading institutional track record since 2013
✓Want: $250M insurance coverage
✓Want: SOC 2 Type 2 compliant

Komainu is better if you…

✓Are a japanese institutions
✓Are a european institutions
✓Are a banks
✓Are a asset managers
✓Want: Nomura backing — tier-1 investment bank
✓Want: Ledger's proven hardware security
✓Want: CoinShares' crypto market expertise

FAQ

Frequently Asked Questions

Is BitGo or Komainu better for Bitcoin custody?

BitGo scores 8.2 vs 7.0 in our weighted Custody Score. BitGo leads in 7 of 8 scoring categories. However, the best choice depends on your specific needs: BitGo is best for Institutions and Exchanges, while Komainu suits Japanese institutions and European institutions.

What is the difference between BitGo and Komainu?

BitGo is a qualified custodian provider, while Komainu is a qualified custodian provider. BitGo excels in Security, whereas Komainu is strongest in Security.

How do BitGo and Komainu fees compare?

BitGo charges Based on AUM — tiered pricing annual custody fees with Varies transaction fees. Komainu charges Custom annual custody fees with Custom transaction fees.

Which is more secure, BitGo or Komainu?

BitGo scores 9.0/10 for security while Komainu scores 8.5/10. BitGo uses Multi-signature + MPC key management, and Komainu uses Ledger Vault enterprise custody.