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

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

Verdict

Quick Verdict

Gemini Custody scores 7.7 vs Komainu's 7.0. Gemini Custody leads in 5 of 8 categories.

Gemini Custody is better suited for Institutions, Funds, Family offices. Komainu is better suited for Japanese institutions, European institutions, Banks.

7.7

GoodCustody Score

Gemini Custody

GoodCustody Score

Komainu

Scores

Score Comparison

Weighted scores across all 8 custody criteria.

Criterion	Weight	Gemini Custody	Komainu	Winner
Security	20%	8.5	8.5	Tie
Insurance	15%	7.0	7.0	Tie
Regulatory	15%	9.0	8.0	Gemini Custody
Fee Transparency	10%	7.5	4.5	Gemini Custody
Track Record	15%	7.0	6.5	Gemini Custody
Withdrawal Flexibility	10%	7.5	6.5	Gemini Custody
Reporting & Audit	10%	9.0	7.5	Gemini Custody
Counterparty Diversification	5%	2.0	3.5	Komainu
Overall Score	100%	7.7	7	Gemini Custody

Visual

Score Radar

Visual overlay of Gemini Custody and Komainu across all categories.

Gemini CustodyKomainu

Deep Dive

Category-by-Category Analysis

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

Security (8.5 vs 8.5)

Gemini Custody uses HSM-based cold storage key management with Majority cold in cold storage and regular penetration testing. Compliance: SOC 1 Type 2 + SOC 2 Type 2. Incident history: Gemini Earn program issues in 2022 (separate from custody). No custody-specific 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 (7.0 vs 7.0)

Gemini Custody offers Insurance on all crypto stored in hot wallet. Cold storage coverage varies. via Top insurance providers. Gemini is one of few exchanges offering insurance on online assets. Cold storage insurance details available to institutional clients.

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

Regulatory (9.0 vs 8.0)

Gemini Custody holds New York Trust Charter, SOC 1 Type 2, SOC 2 Type 2 and is a qualified custodian operating in United States. New York State Department of Financial Services regulated trust company. First crypto exchange to achieve both SOC 1 and SOC 2 Type 2.

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 (7.5 vs 4.5)

Gemini Custody charges 0.40% AUM annually (40bps) — tiered in annual custody fees with Varies by volume per transaction. Lower than Coinbase Custody's 50bps for comparable service.

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

Track Record (7.0 vs 6.5)

Gemini Custody was founded in 2019 and is headquartered in New York, NY. AUM: Not publicly disclosed. Incident history: Gemini Earn program issues in 2022 (separate from custody). No custody-specific 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)

Gemini Custody withdrawal fees: Network fees. Minimum account: Contact for pricing. Supported assets: Bitcoin, Ethereum, 70+ assets.

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

Reporting & Audit (9.0 vs 7.5)

Gemini 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)

Gemini Custody is a qualified custodian provider. Key management: Proprietary cold storage system with HSMs and multi-layer security protocols..

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

Fees

Fee Comparison

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

Fee Type	Gemini Custody	Komainu
Setup Fee	Contact for pricing	Custom
Annual Custody	0.40% AUM annually (40bps) — tiered	Custom
Transaction	Varies by volume	Custom
Withdrawal	Network fees	Network fees

Gemini Custody: Lower than Coinbase Custody's 50bps for comparable service.

Komainu: Nomura + Ledger + CoinShares joint venture.

Features

Feature Comparison

Checklist of features across both providers.

Feature	Gemini Custody	Komainu
70+ asset support	✓	✗
Asia/Europe institutional focus	✗	✓
Available in all 50 US states	✓	✗
Bank-grade compliance	✗	✓
CoinShares crypto expertise	✗	✓
Cold storage custody	✓	✗
Governance frameworks	✗	✓
Hardware security key support (WebAuthn)	✓	✗
Integration with Gemini exchange	✓	✗
Ledger Vault technology	✗	✓
Nomura-backed	✗	✓
SOC 1 & SOC 2 Type 2 certified	✓	✗

Recommendation

Who Should Choose Which?

Gemini Custody is better if you…

✓Are a institutions
✓Are a funds
✓Are a family offices
✓Are a fiduciaries
✓Want: First crypto exchange to achieve SOC 1 + SOC 2 Type 2
✓Want: Competitive custody fee at 40bps
✓Want: Available in all 50 US states

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 Gemini Custody or Komainu better for Bitcoin custody?

Gemini Custody scores 7.7 vs 7.0 in our weighted Custody Score. Gemini Custody leads in 5 of 8 scoring categories. However, the best choice depends on your specific needs: Gemini Custody is best for Institutions and Funds, while Komainu suits Japanese institutions and European institutions.

What is the difference between Gemini Custody and Komainu?

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

How do Gemini Custody and Komainu fees compare?

Gemini Custody charges 0.40% AUM annually (40bps) — tiered annual custody fees with Varies by volume transaction fees. Komainu charges Custom annual custody fees with Custom transaction fees.

Which is more secure, Gemini Custody or Komainu?

Gemini Custody scores 8.5/10 for security while Komainu scores 8.5/10. Gemini Custody uses HSM-based cold storage key management, and Komainu uses Ledger Vault enterprise custody.