Fidelity Digital Assets vs Fireblocks — Head-to-Head Custody Comparison

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

Verdict

Quick Verdict

Fidelity Digital Assets scores 8.4 vs Fireblocks's 6.4. Fidelity Digital Assets leads in 5 of 8 categories.

Fidelity Digital Assets is better suited for Institutional investors, RIAs, Family offices. Fireblocks is better suited for Exchanges, Fintechs, Banks.

8.4

Very GoodCustody Score

Fidelity Digital Assets

6.4

FairCustody Score

Fireblocks

Scores

Score Comparison

Weighted scores across all 8 custody criteria.

Criterion	Weight	Fidelity Digital Assets	Fireblocks	Winner
Security	20%	9.5	9.0	Fidelity Digital Assets
Insurance	15%	9.5	2.0	Fidelity Digital Assets
Regulatory	15%	10.0	5.0	Fidelity Digital Assets
Fee Transparency	10%	5.0	5.0	Tie
Track Record	15%	9.0	8.5	Fidelity Digital Assets
Withdrawal Flexibility	10%	7.0	8.0	Fireblocks
Reporting & Audit	10%	9.0	8.0	Fidelity Digital Assets
Counterparty Diversification	5%	2.0	4.0	Fireblocks
Overall Score	100%	8.4	6.4	Fidelity Digital Assets

Visual

Score Radar

Visual overlay of Fidelity Digital Assets and Fireblocks across all categories.

Fidelity Digital AssetsFireblocks

Deep Dive

Category-by-Category Analysis

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

Security (9.5 vs 9.0)

Fidelity Digital Assets uses HSM-based cold storage key management with Vast 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 (9.5 vs 2.0)

Fidelity Digital Assets offers Up to $1B reported via Major insurance carriers. One of the highest insurance coverage amounts in the industry. Exact terms available to institutional clients.

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)

Fidelity Digital Assets holds New York State Trust Charter (Fidelity Digital Assets, National Association) and is a qualified custodian operating in United States. Fidelity Digital Assets, National Association is a national trust bank chartered by the OCC. Parent company Fidelity Investments is one of the most regulated financial institutions globally.

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 (5.0 vs 5.0)

Fidelity Digital Assets charges Contact for pricing (competitive institutional rates) in annual custody fees with 1% spread on Fidelity Crypto retail platform per transaction. Retail Fidelity Crypto charges 1% spread. Institutional custody pricing is separate and negotiable.

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 (9.0 vs 8.5)

Fidelity Digital Assets was founded in 2018 and is headquartered in Boston, MA. AUM: Not publicly disclosed (Fidelity overall: $14T+). 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)

Fidelity Digital Assets withdrawal fees: Contact for pricing. Minimum account: Institutional only — contact for details. Supported assets: Bitcoin, Ethereum.

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

Reporting & Audit (9.0 vs 8.0)

Fidelity Digital Assets: 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)

Fidelity Digital Assets is a qualified custodian provider. Key management: Proprietary cold storage using HSMs in secure, geographically distributed facilities..

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 Fidelity Digital Assets and Fireblocks.

Fee Type	Fidelity Digital Assets	Fireblocks
Setup Fee	Contact for pricing	Enterprise pricing
Annual Custody	Contact for pricing (competitive institutional rates)	SaaS subscription model
Transaction	1% spread on Fidelity Crypto retail platform	Per-transaction fees vary
Withdrawal	Contact for pricing	Network fees

Fidelity Digital Assets: Retail Fidelity Crypto charges 1% spread. Institutional custody pricing is separate and negotiable.

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	Fidelity Digital Assets	Fireblocks
1,500+ token support	✗	✓
24/7 operational support	✓	✗
API-first for developers	✗	✓
DeFi access and Web3 connectivity	✗	✓
Dedicated institutional trading desk	✓	✗
Fidelity Wise Origin Bitcoin Fund (FBTC) custody	✓	✗
Institutional-grade cold storage	✓	✗
Integration with Fidelity's broader financial ecosystem	✓	✗
MPC key management (no single key ever exists)	✗	✓
Policy engine for governance workflows	✗	✓
Regulatory reporting	✓	✗
Treasury management	✗	✓
Used by 1,800+ institutions	✗	✓

Recommendation

Who Should Choose Which?

Fidelity Digital Assets is better if you…

✓Are a institutional investors
✓Are a rias
✓Are a family offices
✓Are a pension funds
✓Want: Backed by Fidelity — $14T+ AUM parent company
✓Want: Up to $1B insurance coverage — industry-leading
✓Want: National trust bank charter (OCC regulated)

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 Fidelity Digital Assets or Fireblocks better for Bitcoin custody?

Fidelity Digital Assets scores 8.4 vs 6.4 in our weighted Custody Score. Fidelity Digital Assets leads in 5 of 8 scoring categories. However, the best choice depends on your specific needs: Fidelity Digital Assets is best for Institutional investors and RIAs, while Fireblocks suits Exchanges and Fintechs.

What is the difference between Fidelity Digital Assets and Fireblocks?

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

How do Fidelity Digital Assets and Fireblocks fees compare?

Fidelity Digital Assets charges Contact for pricing (competitive institutional rates) annual custody fees with 1% spread on Fidelity Crypto retail platform transaction fees. Fireblocks charges SaaS subscription model annual custody fees with Per-transaction fees vary transaction fees.

Which is more secure, Fidelity Digital Assets or Fireblocks?

Fidelity Digital Assets scores 9.5/10 for security while Fireblocks scores 9.0/10. Fidelity Digital Assets uses HSM-based cold storage key management, and Fireblocks uses MPC-CMP (no single private key exists).