We like Kraken for its elite security and transparency-its attestations, institutional custody services, and regulatory coverage make it a steadfast choice for traders and institutions seeking rock-solid infrastructure. Its roadmap in Q1 2025 introduced institutional custody, stablecoin launches, and AI trading tools, alongside expansion in banking services like multi-currency accounts and yield-bearing cash. It holds global licenses-including MiCA CASP in Malta, PSP in Bahrain, VASP in Ireland, MAS in Singapore, and MSBs in the U.S.-and carried FDIC coverage on fiat balances, plus $750 million in crypto insurance. It’s more than just an exchange: users access an embedded ecosystem including a Visa/ Mastercard debit card, DeFi and self-custody wallets, NFT marketplace, lending, staking, and stock/ETF trading in select regions.

PoR verifies over 650,000 wallet addresses using zk-STARK proofs, optimized for both cryptographic rigor and usability (file size reduced from 2.55 GB to 598 KB). Alongside this, the multi-billion-dollar insurance fund and global compliance (licensing in Dubai, Malta, Singapore, Bahamas, and recent U.S. OKX sets the transparency standard with monthly, independently verified proof-of-reserves, advanced educational security features, and global regulatory licenses-offering peace of mind for users who care about solvency and institutional-grade reliability.

Still, it faces regulatory pressures, culminating in a lawsuit against the SEC over unregistered token sales. U.S.-pegged stablecoin (Gemini Dollar). Gemini is regulated under NYDFS, enabling it to hold crypto as trust assets; it offers insurance coverage of $200 million against hot-wallet theft or employee misconduct. Its institutional infrastructure includes Gemini Custody and Clearing, servicing hedge funds and ETFs with segregated accounts and banking-grade compliance . It provides tiered service levels-from mobile retail to Gemini Active Trader and institutional custody-protected by insured hot wallets, offline cold storage, and FDIC-insured bank partnerships. It pairs user convenience with institutional-grade security and compliance, Europe making it a top pick for users seeking broad utility and trust.

In Q1 2025, Coinbase reported $328 billion AUM, up from $193 billion a year earlier-a 70% year-over-year gain. It holds licenses spanning FinCEN, FINTRAC, FCA, AMF, AUSTRAC, and Wyoming’s SPDI charter, enabling Kraken Bank to offer fully backed fiat custodial accounts, debit cards, and salary services. It remains a publicly traded S&P 500 company and continues global expansion, adding features like its Layer 2 network “Base,” a native NFT marketplace, and the Coinbase Card debit solution. Heavy regulation. Broad U.S.S. Kraken supports 2.5 million funded accounts with $42.8 billion in client assets and $1.5 billion in revenue in 2024-revenues that grew 128% YoY to $665 billion in trading volume. Coinbase boasts robust U.S.