itBit Custody
Cryptocurrency custody software
Blockchain software
Cryptocurrency software
- Features
- Ease of use
- Ease of management
- Quality of support
- Affordability
- Market presence
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- Banking and insurance
- Public sector and nonprofit organizations
- Healthcare and life sciences
What is itBit Custody
itBit Custody is a digital asset custody service associated with the itBit exchange business and offered under the Paxos group. It is designed to safeguard cryptocurrencies for institutional users that need regulated custody, segregation of client assets, and operational controls around storage and transfers. The offering is typically positioned as part of a broader digital-asset infrastructure stack that includes brokerage/exchange and settlement services rather than a standalone retail wallet.
Institutional custody orientation
The product is built for institutional custody use cases rather than consumer self-custody. It focuses on controlled access, operational workflows, and custody-grade storage practices. This aligns with requirements commonly seen in funds, brokers, and other regulated financial institutions.
Regulated entity association
itBit Custody is associated with Paxos, a regulated digital-asset infrastructure provider, and historically with the itBit exchange. For buyers, this can simplify vendor due diligence compared with custody offerings that are not tied to a regulated operating model. It can also support compliance-driven procurement where governance and oversight are key selection criteria.
Part of broader platform
The custody capability is typically offered alongside other Paxos/itBit services, which can reduce integration work for organizations that want custody plus trading/settlement under one vendor relationship. This can streamline operational handoffs between execution and safekeeping. It may also reduce the number of counterparties involved in the asset lifecycle.
Limited standalone visibility
Public, current product documentation specifically branded as "itBit Custody" is less prominent than many dedicated custody platforms. This can make it harder to validate supported assets, control features, and reporting capabilities without direct vendor engagement. Procurement teams may need to rely on sales-led materials and contractual exhibits for definitive scope.
Potentially narrower feature set
Compared with custody platforms that emphasize policy engines, transaction simulation, and broad third-party integrations, the available information suggests fewer clearly documented advanced controls. Organizations with complex governance (multi-entity policies, granular approvals, or extensive integration requirements) may need to confirm fit through a proof of concept. Some capabilities may be delivered via Paxos platform components rather than a single custody product module.
Service availability constraints
Custody services tied to regulated entities can have jurisdiction, onboarding, and eligibility constraints. This may limit availability for certain geographies, client types, or asset classes. Buyers should confirm supported regions, licensing coverage, and any restrictions on deposits/withdrawals and asset support.
Plan & Pricing
Publicly listed pricing: None found on Paxos/itBit official website.
Known fees (from official Paxos/itBit documentation):
- Dormancy / inactivity fee: $2.00 per month if the account maintains a non-zero balance and there has been no trading activity on the account for twelve months or longer. (Listed in Paxos / itBit Terms & Conditions and related product terms.)
Notes:
- Paxos states that fees for Custody (itBit Custody) are set forth in a separate "Pricing Supplement" provided to customers (i.e., not publicly posted). Paxos directs inquiries about Custody fees to custody@paxos.com (and older itBit pages referenced custody@itbit.com).
Seller details
Paxos Trust Company
New York, New York, United States
2012
Private
https://www.paxos.com/
https://x.com/paxos
https://www.linkedin.com/company/paxos
