Issuers and the custodians that hold reserves or client stablecoins. It depends on what the holding has to survive: a single point of failure can be excellent at everything else and still lose everything at once, so read that column first, then the fees against your size.
| Platform | Score | Custody model | Single point of failure | Independence | Insurance | Regulatory | Qualified custodian | Fees | Minimum | Incidents | As of |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Circle (USDC) | 82 | Multi-Institution Reserves (BlackRock + BNY Mellon) | No | 4/4 | Not disclosed | Money Transmitter (49 states); UK EMI License; France DASP; Singapore MPI | No | Free mint/burn (institutional) | $0 (exchanges) / $100K (Circle Mint) | 0 | 2026-03-02 |
| Paxos | 79 | NY Trust Company (State-Regulated) | Yes | 0/4 | Not disclosed | NY DFS Trust Charter; Singapore MPI License | Yes | Custom institutional pricing | Institutional | 0 | 2026-03-02 |
| BNY Mellon | 76 | World's Largest Custodian Bank | Yes | 0/4 | Not disclosed | NY State Banking Charter; Federal Reserve Member; SEC Registered | Yes | Custom institutional pricing | Institutional only | 0 | 2026-03-02 |
| Bridge (by Stripe) | 75 | Stablecoin Orchestration (Stripe-Backed) | Yes | 0/4 | Not disclosed | Money Transmitter (via Stripe) | No | API-based pricing | $0 (developer integration) | 0 | 2026-03-02 |
| BitGo | 74 | Qualified Custodian (Multi-Sig) | Yes | 0/4 | Not disclosed | South Dakota Trust Charter; NY BitLicense | Yes | Custom institutional pricing | $100K+ | 0 | 2026-03-02 |
| PayPal (PYUSD) | 73 | Paxos-Issued, PayPal-Distributed | Yes | 0/4 | Not disclosed | NY DFS Trust Charter (via Paxos) | No | Free PayPal-to-PayPal transfers | $0 | 0 | 2026-03-02 |
| Anchorage Digital | 71 | OCC-Chartered Crypto Bank | Yes | 0/4 | Not disclosed | OCC National Trust Bank Charter; SEC Registered Investment Advisor | Yes | Custom institutional pricing | Institutional | 0 | 2026-03-02 |
| Ripple (RLUSD) | 70 | NY DFS-Approved Stablecoin | Yes | 0/4 | Not disclosed | NY DFS Limited Purpose Trust Charter | No | Competitive institutional pricing | $0 | 0 | 2026-03-02 |
| Fireblocks | 66 | MPC Custody Infrastructure | Yes | 0/4 | Not disclosed | SOC 2 Type 2 | No | Custom SaaS pricing | Institutional | 0 | 2026-03-02 |
| Tether (USDT) | 62 | Single Custodian (Cantor Fitzgerald) | Yes | 0/4 | Not disclosed | El Salvador DASP | No | 0.1% redemption fee | $100K (direct redemption) | 0 | 2026-03-02 |
Facts are from each provider's own documents and public filings with the date the record was last checked; "n/s" means not stated by the provider. Scores are Proof of Custody's judgement on the published methodology. Coverage is selected, not exhaustive; absence is not evidence of safety. As data: /data/matrix.json. Dispute a cell through corrections.
Free, read-only, no key. Every answer carries its source URL, as-of date and the publisher disclosure.