Comparison · 2026 edition
Coinbase Prime vs Kraken: crypto liquidity compared 2026.
Coinbase Prime and Kraken side by side in the Crypto Exchange and Liquidity for Businesses Index 2026: scores, evidence, published facts and awards.
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Coinbase Prime and Kraken side by side in the Crypto Exchange and Liquidity for Businesses Index 2026: scores, evidence, published facts and awards.
In the Crypto Exchange and Liquidity for Businesses Index, Kraken scores higher overall: 4.5 out of 5 (90 out of 100) against 3.2 (65), ranking 1 and 3 of 12. Kraken also scores higher in every segment.
Overall and segment scores out of 100, and the score out of 5.
| Score | Coinbase Prime | Kraken |
|---|---|---|
| Score out of 5 | 3.2 | 4.5 |
| Score out of 100 | 65 | 90 |
| Overall rank | 3 of 12 | 1 of 12 |
| For payment and fintech firms (out of 100) | 65, rank 3 | 91, rank 1 |
| For funds and trading firms (out of 100) | 65, rank 3 | 90, rank 1 |
| For corporate treasuries (out of 100) | 66, rank 3 | 90, rank 1 |
| Type | Prime broker | Exchange with OTC desk |
Each score with the evidence behind it.
| Criterion | Coinbase Prime | Kraken |
|---|---|---|
| Regulatory standing | 5/5 NYDFS licence and trust charter, EU MiCA licence and CFTC registration published. | 5/5 Licences and registrations in the EU, UK, US and Australia with numbers published. |
| Published pricing | 0/5 Not published on the pages read. | 5/5 Full maker and taker table to institutional volume tiers published; OTC spreads not published. |
| Asset and currency coverage | 4/5 275+ tradeable assets published; fiat coverage not stated. | 4/5 550+ assets and six major fiat currencies published. |
| Execution access | 3/5 RFQ, algorithms and API published; OTC chat, FIX and 24/7 spot trading not stated. | 5/5 OTC chat, RFQ, FIX API and 24/7 access published. |
| Settlement | 3/5 Financing published; payment rails not named. | 3/5 Settlement within 24 hours to account, bank or wallet stated; payment rails and settlement from a third-party custodian not stated. |
| Security assurance | 5/5 SOC 1 Type II and SOC 2 Type II published. | 5/5 ISO 27001:2022 and SOC 2 Type 2 published, with proof of reserves. |
Each criterion is scored 0 to 5 against the best published offer in the Crypto Exchange and Liquidity for Businesses Index. 0 means not offered or not published. How it is scored
What each provider publishes on its own pages, read on 26 October 2026.
| Fact | Coinbase Prime | Kraken |
|---|---|---|
| Regulatory standing | Coinbase, Inc. is licensed by NYDFS for virtual currency business; Coinbase Custody Trust Company is a New York limited purpose trust company; Coinbase holds a MiCA licence covering all 27 EU member states; futures through Coinbase Financial Markets, Inc., a CFTC-registered futures commission merchant and NFA member. | Disclosures page: Payward Europe Solutions Limited, crypto-asset service provider regulated by the Central Bank of Ireland; Payward Services Limited, authorised by the FCA as an e-money institution (FRN: 1010381); Payward Limited, registered with the FCA as a cryptoasset business; Payward Interactive, Inc., US state money transmitter licences (NMLS ID 1843762); Bit Trade Pty Ltd, registered with AUSTRAC. |
| Pricing | Not published; the page notes "Trading venues not connected to Coinbase Prime may offer better pricing." | Spot maker and taker fees by 30-day volume, from Tier 1 ($0+): 0.40% maker, 0.80% taker, to Pro 5 ($500M+): 0.0% maker, 0.05% taker. Chat and RFQ trades: "the quoted price is all-inclusive and already reflects Kraken's spread and fees." |
| Asset and currency coverage | "275+ Tradeable assets"; "90+ Assets available for financing and cross-margining". Fiat currencies other than USD not stated. | "550+ Supported assets across trading and custody"; OTC portal: "trade 150+ pairs in seconds". Fee page names USD, GBP, CAD, AUD, EUR and CHF as major currencies. |
| Execution access | Order types include RFQ, TWAP, VWAP and adaptive strategies; Prime API documentation; liquidity aggregated from exchanges, market makers and OTC desks. FIX not stated on the page read. | OTC desk: "Chat or RFQ"; self-service RFQ portal; "Connect via API, WebSockets, REST and FIX 4.4"; "24/7 markets"; option to colocate. |
| Settlement | Prime manages "pre-funding, settlement, connectivity, and key management end-to-end"; financing and cross-margining offered. Payment rails not named. | "Settle trades within 24 hours using your Kraken account, your bank and/or an external wallet." OTC lending: "a minimum loan size of $500,000". |
| Security | Coinbase Custody Trust Company "maintains SOC 1 Type II and SOC 2 Type II audits by Deloitte & Touche". | Site lists ISO/IEC 27001:2022, SOC 2 Type 2 for its qualified custody offering and SOC 2 Type 1 for custody and funding services; proof of reserves published. |
| Date read | 26 October 2026 | 26 October 2026 |
Not published or not stated by Coinbase Prime: pricing, asset and currency coverage, execution access and settlement.
Not published or not stated by Kraken: published pricing and settlement.
Facts read on 26 October 2026 from: coinbase.com/prime, coinbase.com/en/prime/custody; and kraken.com/institutions, kraken.com/institutions/otc, kraken.com/features/fee-schedule, kraken.com/legal/disclosures.
Awards follow from the published scores and cannot be bought.
From each provider's strongest criteria and published terms.
Funds and corporates wanting trading, financing and custody in one account.
Businesses wanting exchange, OTC and API access with a full published fee table.
Tell us what you need and where you operate.