The token is a claim; the column that matters is what backs it and who holds that. 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| BlackRock BUIDL | 80 | Multi-Institution (BNY Mellon + Securitize) | No | 3/4 | Not disclosed | SEC-Registered Fund; Securitize: SEC Transfer Agent + FINRA Broker-Dealer | Yes | 0.50% management fee | $100K (via Securitize) | 0 | 2026-03-02 |
| Franklin Templeton BENJI | 78 | SEC-Registered Fund (Franklin Templeton) | Yes | 0/4 | Not disclosed | SEC-Registered Investment Company (1940 Act); FINRA | Yes | 0.20% expense ratio | $20 (via Benji app) | 0 | 2026-03-02 |
| Securitize | 78 | SEC Transfer Agent + FINRA Broker-Dealer | Yes | 0/4 | Not disclosed | SEC Transfer Agent; FINRA Broker-Dealer (Securitize Markets); SEC Reg D/S | No | Platform + origination fees | Varies by fund | 0 | 2026-03-02 |
| Ondo Finance | 76 | BlackRock BUIDL-Backed (OUSG) + Ankura Trust | Yes | 0/4 | Not disclosed | SEC Reg D exempt offering | No | 0.15% management fee (OUSG) | $5K (USDY) / $100K (OUSG) | 0 | 2026-03-02 |
| Paxos Gold (PAXG) | 76 | Brink's Vaults + NY DFS Regulated | Yes | 0/4 | Not disclosed | NY DFS Trust Charter | Yes | 0.02% on-chain transfer fee | $20 (on exchanges) | 0 | 2026-03-02 |
| Tether Gold (XAUT) | 64 | Swiss Vault Custody (Tether-Managed) | Yes | 0/4 | Not disclosed | British Virgin Islands | No | 0.25% creation fee | $50 (on exchanges) | 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.