Coinbase Custody vs Komainu — Head-to-Head Custody Comparison

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

Verdict

Quick Verdict

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

Coinbase Custody is better suited for ETF issuers, Hedge funds, Asset managers. Komainu is better suited for Japanese institutions, European institutions, Banks.

8.2

Very GoodCustody Score

Coinbase Custody

GoodCustody Score

Komainu

Scores

Score Comparison

Weighted scores across all 8 custody criteria.

Criterion	Weight	Coinbase Custody	Komainu	Winner
Security	20%	9.0	8.5	Coinbase Custody
Insurance	15%	8.0	7.0	Coinbase Custody
Regulatory	15%	9.5	8.0	Coinbase Custody
Fee Transparency	10%	7.0	4.5	Coinbase Custody
Track Record	15%	8.5	6.5	Coinbase Custody
Withdrawal Flexibility	10%	7.5	6.5	Coinbase Custody
Reporting & Audit	10%	9.0	7.5	Coinbase Custody
Counterparty Diversification	5%	2.0	3.5	Komainu
Overall Score	100%	8.2	7	Coinbase Custody

Visual

Score Radar

Visual overlay of Coinbase Custody and Komainu across all categories.

Coinbase CustodyKomainu

Deep Dive

Category-by-Category Analysis

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

Security (9.0 vs 8.5)

Coinbase Custody uses Proprietary cold storage key management with 98%+ cold storage in cold storage and regular penetration testing. Compliance: SOC 1 Type 2, SOC 2 Type 2. Incident history: No custody-specific breaches. Coinbase exchange has had minor incidents..

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 (8.0 vs 7.0)

Coinbase Custody offers Significant coverage (exact amount not publicly disclosed) via Multiple carriers. Crime insurance covering theft from breach of physical or cyber security. Coinbase publicly listed — financial transparency via SEC filings.

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

Regulatory (9.5 vs 8.0)

Coinbase Custody holds New York BitLicense, NY Trust Charter (Coinbase Custody Trust Company) and is a qualified custodian operating in United States. Coinbase Custody Trust Company, LLC is a fiduciary under New York State Banking Law. Publicly traded (COIN) providing financial transparency.

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 (7.0 vs 4.5)

Coinbase Custody charges 0.50% AUM (50bps) — tiered for large balances in annual custody fees with Varies per transaction. Pricing negotiable for large institutional clients. ETF custodian arrangements have separate terms.

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

Track Record (8.5 vs 6.5)

Coinbase Custody was founded in 2018 and is headquartered in San Francisco, CA (Coinbase Global). AUM: $300B+ (Coinbase platform total). Incident history: No custody-specific breaches. Coinbase exchange has had minor incidents..

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

Withdrawal Flexibility (7.5 vs 6.5)

Coinbase Custody withdrawal fees: Network fees + processing fee. Minimum account: $500,000. Supported assets: Bitcoin, Ethereum, 400+ assets.

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

Reporting & Audit (9.0 vs 7.5)

Coinbase Custody: SOC compliance is SOC 1 Type 2, 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 (2.0 vs 3.5)

Coinbase Custody is a qualified custodian provider. Key management: Proprietary cold storage with multi-layer security. Air-gapped signing infrastructure..

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

Fees

Fee Comparison

Side-by-side fee breakdown for Coinbase Custody and Komainu.

Fee Type	Coinbase Custody	Komainu
Setup Fee	$10,000 one-time	Custom
Annual Custody	0.50% AUM (50bps) — tiered for large balances	Custom
Transaction	Varies	Custom
Withdrawal	Network fees + processing fee	Network fees

Coinbase Custody: Pricing negotiable for large institutional clients. ETF custodian arrangements have separate terms.

Komainu: Nomura + Ledger + CoinShares joint venture.

Features

Feature Comparison

Checklist of features across both providers.

Feature	Coinbase Custody	Komainu
Asia/Europe institutional focus	✗	✓
Bank-grade compliance	✗	✓
CoinShares crypto expertise	✗	✓
Cold storage for 400+ assets	✓	✗
Custodian for major Bitcoin ETFs	✓	✗
Dedicated account management	✓	✗
Governance frameworks	✗	✓
Integration with Coinbase Prime for trading	✓	✗
Ledger Vault technology	✗	✓
Nomura-backed	✗	✓
Regulatory reporting and compliance tools	✓	✗
Staking (governance participation from cold storage)	✓	✗

Recommendation

Who Should Choose Which?

Coinbase Custody is better if you…

✓Are a etf issuers
✓Are a hedge funds
✓Are a asset managers
✓Are a institutions
✓Want: Custodian for BlackRock, Fidelity, and other major ETFs — ultimate institutional validation
✓Want: Publicly traded company — financial transparency via SEC filings
✓Want: SOC 1 & 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 Coinbase Custody or Komainu better for Bitcoin custody?

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

What is the difference between Coinbase Custody and Komainu?

Coinbase Custody is a qualified custodian provider, while Komainu is a qualified custodian provider. Coinbase Custody excels in Regulatory, whereas Komainu is strongest in Security.

How do Coinbase Custody and Komainu fees compare?

Coinbase Custody charges 0.50% AUM (50bps) — tiered for large balances annual custody fees with Varies transaction fees. Komainu charges Custom annual custody fees with Custom transaction fees.

Which is more secure, Coinbase Custody or Komainu?

Coinbase Custody scores 9.0/10 for security while Komainu scores 8.5/10. Coinbase Custody uses Proprietary cold storage key management, and Komainu uses Ledger Vault enterprise custody.