Toku
Toku lists Token Grant Administration as a service for grants, vesting, and payroll-aligned reporting.
Confirm the grant-administration scope and price separately from employment and payout services.
Checked · Toku service pricing
Toku vs Liquifi (now Coinbase Token Manager)
Liquifi joined Coinbase in July 2025 and became Coinbase Token Manager in February 2026. Comparing it with Toku? The main difference is how token management fits into your business. Coinbase Token Manager sits within Coinbase's institutional platform. Toku connects token grant administration to employment, payroll, and tax withholding in 100+ countries, independently of any exchange.
Toku
Toku: Token grants connected to payroll
Manage grant records, vesting schedules, and local tax withholding in one connected workflow. Toku is non-custodial and works with your choice of exchange or custodian.
Liquifi
Coinbase Token Manager: Token management within Coinbase
Liquifi's cap table, vesting, and compliance tools are now part of Coinbase's institutional product suite.
Check the facts before you choose
The statements below link to provider documentation. Review dates apply to these facts; availability and terms can change.
Liquifi / Coinbase Token Manager
Liquifi’s website redirects to Coinbase Token Manager, which lists automated vesting, lockups, bulk distributions, and payroll integrations.
Review the current Coinbase product, rather than assuming the older Liquifi positioning describes today’s offering.
Checked · Coinbase Token Manager
What Toku offers
From token grants to payroll and tax withholding
Keep grant records and vesting schedules connected to the work that follows: calculating withholding and processing it through payroll in 100+ countries. Toku brings these steps together without taking custody of your tokens or requiring a particular exchange.
Token grant records and vesting schedules
Grants and vesting schedules maintained in one connected workflow.
Tax withholding connected to payroll in 100+ countries
Calculate withholding and process it through payroll in 100+ countries.
Non-custodial administration
Toku administers your grants without holding your tokens or private keys.
Freedom to choose your exchange or custodian
Works with your choice of exchange or custodian — no particular venue required.
Key differences
As of September 2026.
Independence
Toku is a standalone provider. Coinbase Token Manager is part of Coinbase's institutional platform.
Employment and payroll
Toku connects token grant administration with EOR, AOR, and payroll services for recipients.
Tax withholding
Toku connects token distributions to local withholding and payroll filings, helping teams handle the obligations that come with paying people in tokens.
Comparison table
As of September 2026.
Coinbase Token Manager is part of an exchange's platform. Toku is an independent, non-custodial provider that connects token grants to payroll and tax withholding in 100+ countries.
| Feature | Toku | Coinbase Token Manager (Liquifi) |
|---|---|---|
| Ownership | Independent company | Part of Coinbase since July 2025 |
| Token grant records and vesting | Yes | Yes |
| Tax withholding on token distributions | Connected to payroll in 100+ countries | Not a payroll product |
| Employment services for token recipients | EOR and AOR services available | No |
| Custody and platform integration | Non-custodial; Toku does not hold your tokens | Integrated with Coinbase's institutional products |
| Exchange and custodian choice | Works with your choice of exchange or custodian | Built within Coinbase's platform |
Liquifi built tools to help teams manage token cap tables, vesting, and launches. Those tools continue as Coinbase Token Manager. Toku focuses on connecting token grants to the responsibilities of paying a global team: determining what to withhold, applying local requirements, and handling payroll and tax filings.
Frequently asked questions
Yes. Liquifi joined Coinbase in July 2025 and became Coinbase Token Manager in February 2026. Its cap table, vesting, and compliance tools now operate as part of Coinbase's institutional product suite.
Coinbase Token Manager sits within Coinbase's institutional platform. Toku is an independent provider that connects token grant administration to employment, payroll, and tax withholding in 100+ countries, is non-custodial, and works with your choice of exchange or custodian.
No. Toku is non-custodial and works with your choice of exchange or custodian. It does not hold your tokens or private keys and does not require you to use a particular venue.
Teams that want token grant administration independent of an exchange often consider Toku. Toku connects grant records and vesting to tax withholding and payroll in 100+ countries, and administers grants without taking custody of your tokens.
See Toku in action
Manage token grants with the freedom to choose your exchange
Connect vesting, tax withholding, and global payroll with Toku.