Coinbase Custody Trust Company
Coinbase Custody Trust Company, LLC (S&P 500 member since May 2025)
centralised custody
Risk Rating
2/5
Low
Established
2012-06-01
Custody Since
2018-01-01
Assets Under Custody
$300.0B
Regulatory Licenses
NY Trust Charter
New York Department of Financial Services (NYDFS)
National Trust Company Charter (Pending OCC)
Office of the Comptroller of the Currency (OCC)
Qualified Custodian (SEC)
Securities and Exchange Commission (SEC)
Money Transmitter Licenses (multiple states)
Risk Assessment
Assessment Rationale
Coinbase holds strongest regulatory standing among wrapped Bitcoin custodians. Full MiCA CASP authorization from Luxembourg CSSF (June 2025) - first US exchange with EU license. Also holds NY Trust Charter, SEC Qualified Custodian status, and pending OCC National Trust Charter. Public company (NASDAQ: COIN) with robust compliance infrastructure. Lower risk score due to: (1) Self-attested proof of reserves (no third-party audit), (2) Centralized custody model (single counterparty), (3) Base L2 integration adds smart contract risk layer, (4) Limited operating history for cbBTC (launched Sept 2024).
Historical Incidents
SEC Wells Notice Received
high2023-03-22
Coinbase received SEC Wells Notice regarding potential securities law violations. This was subsequently dismissed with prejudice on February 27, 2025.
Proof of Reserves
Methodology
self attested
Frequency
annual
Auditor
Deloitte SOC 1 Type II and SOC 2 Type II
Limitations
- SOC audits are annual
- Limited public attestations compared to competitors
- Relies on Coinbase's custody infrastructure transparency
Supported Assets
Jurisdictions
Available
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Disclaimer
Risk ratings and regulatory information are for educational purposes only. Always conduct your own due diligence before selecting a custodian. Not financial or legal advice.