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Cybersecurity · head to head

HashiCorp Boundary vs Keygen

HashiCorp Boundary logo

HashiCorp Boundary

Cybersecurity

Identity-aware session broker for infrastructure access without distributing credentials

From
Free
Rated
-
Full reviewWebsite
Keygen logo

Keygen

Cybersecurity

Open, source-available software licensing API

From
Free
Rated
-
Full reviewWebsite

The short version

  • Each has a real cost: HashiCorp Boundary hashiCorp was acquired by IBM in February 2025 and Enterprise licensing now runs through IBM Passport Advantage; IBM has already retired HCP Vault Secrets, so Boundary's roadmap depends on IBM portfolio decisions rather than HashiCorp's own product strategy.; Keygen specific Active Licensed User (ALU) pricing not listed; requires interactive pricing calculator
  • Prices and features above were last checked on 31 August 2026.

Where they differ

Only the attributes on which HashiCorp Boundary and Keygen actually diverge.

Attributes where HashiCorp Boundary and Keygen differ
AttributeHashiCorp BoundaryKeygen
Pricing modelOpen source, no licence feeusage-based
PlatformsLinux, macOS, Windows, WebWeb

Identical on both: starting price (Free), free tier (Yes), user rating (Not yet rated), category (Cybersecurity).

What each one covers

Drawn from each product's published feature list. An absence here means we hold no record of it - not that the product lacks it.

Only in HashiCorp Boundary

  • Identity-based access
  • Just-in-time credentials
  • Dynamic host catalogues
  • Session recording
  • Transparent sessions
  • Multi-hop workers
  • Audit logging
  • Terraform provider

Only in Keygen

Nothing recorded that HashiCorp Boundary does not also cover.

What people use each for

The jobs each tool is most often brought in to do.

HashiCorp Boundary

  • A platform team replacing shared SSH keys and a bastion host so that leavers lose access the moment they are removed from the identity providernot Keygen
  • Granting contractors time-boxed database access without ever issuing them a credential they could keepnot Keygen
  • An estate where autoscaling replaces hosts continuously and a static access list is always out of datenot Keygen
  • Producing session recordings as evidence for an audit that requires proof of who touched production and what they rannot Keygen

Keygen

  • Software licensing and distributionnot HashiCorp Boundary
  • Product release managementnot HashiCorp Boundary
  • API-based license verificationnot HashiCorp Boundary

Where each one falls short

Documented limitations, not opinions. Every one is a constraint you would hit in normal use.

HashiCorp Boundary

  • HashiCorp was acquired by IBM in February 2025 and Enterprise licensing now runs through IBM Passport Advantage; IBM has already retired HCP Vault Secrets, so Boundary's roadmap depends on IBM portfolio decisions rather than HashiCorp's own product strategy.
  • Enterprise pricing is not published anywhere, and the features most organisations actually need for compliance, notably session recording, are Enterprise only, so the free community edition is rarely the version you end up buying.
  • It solves access to infrastructure, not to applications; browser-based internal tools, SaaS admin consoles and APIs need a separate control, so Boundary is one component of a zero-trust programme rather than the whole thing.
  • Running it yourself means operating controllers, worker nodes and a Postgres database in a highly available configuration, and if that control plane is down nobody can reach production, which makes it a new critical dependency.
  • It is materially easier to adopt if you already run Vault and Terraform; teams without that ecosystem face a steeper learning curve than a device-based mesh product like Tailscale, for a similar access outcome.

Keygen

  • Specific Active Licensed User (ALU) pricing not listed; requires interactive pricing calculator
  • Whitelabel API add-on costs $995/year per domain

Pricing, plan by plan

HashiCorp Boundary

Free
  • Boundary Community EditionFree
    • MPL 2.0 open source
    • Self-hosted controllers and workers
    • Identity-based target access
  • Boundary Enterprise$undefined/year
    • Session recording and playback
    • Multi-hop and transparent sessions
    • Multi-tenancy via scopes

Keygen

Free
  • DevFree
    • Up to 100 Active Licensed Users
    • 10 product releases
    • Core licensing API only
  • Std$null/month
    • Scaling with licensing volume
    • Distribution API (OCI/Docker, npm, Rubygems, PyPI, Tauri)
    • Flat monthly/yearly fees
  • Enterprise$null/month
    • Audit logs
    • SAML/SSO
    • IP filtering

Which should you pick?

Choose HashiCorp Boundary if

  • You need identity-based access.
  • You want to start without paying.
  • You work on Linux, macOS, Windows, Web.
  • You also want just-in-time credentials.
HashiCorp Boundary review

Choose Keygen if

  • You want to start without paying.
Keygen review

Questions people ask

Is HashiCorp Boundary or Keygen better?
Neither clearly leads. HashiCorp Boundary starts at Free and Keygen at Free, and user ratings are close enough to be indistinguishable. Choose on capability and platform support.
Which is cheaper, HashiCorp Boundary or Keygen?
HashiCorp Boundary starts at Free and Keygen at Free.
Does HashiCorp Boundary or Keygen run on more platforms?
HashiCorp Boundary runs on Linux, macOS, Windows, Web. Keygen runs on Web.
Can I use HashiCorp Boundary for free?
Both have a free tier, so you can try either at no cost before committing.
What is HashiCorp Boundary best used for?
HashiCorp Boundary is most often used for a platform team replacing shared ssh keys and a bastion host so that leavers lose access the moment they are removed from the identity provider, granting contractors time-boxed database access without ever issuing them a credential they could keep, an estate where autoscaling replaces hosts continuously and a static access list is always out of date, producing session recordings as evidence for an audit that requires proof of who touched production and what they ran. Of those, a platform team replacing shared ssh keys and a bastion host so that leavers lose access the moment they are removed from the identity provider and granting contractors time-boxed database access without ever issuing them a credential they could keep are not what Keygen is typically brought in for.
What can HashiCorp Boundary do that Keygen cannot?
HashiCorp Boundary covers Identity-based access, Just-in-time credentials, Dynamic host catalogues, Session recording.

Answered from the vendors’ own pages

HashiCorp Boundary: Is Boundary open source?

The community edition is, under MPL 2.0. Boundary Enterprise is commercial and is now sold through IBM Passport Advantage.

Keygen: Does Keygen have a free tier?

Yes, the Dev tier is free and supports up to 100 Active Licensed Users with 10 product releases and core licensing API access.

Source
HashiCorp Boundary: Does it replace a VPN?

For infrastructure access, largely yes. It grants a session to a specific target rather than putting the user on a network, but it does not cover browser-based internal applications.

Keygen: How is Keygen pricing calculated?

Keygen uses scalable, flat monthly or yearly fees based on your licensing volume (Active Licensed Users). No revenue share or transaction fees are charged.

Source
HashiCorp Boundary: What does Boundary Enterprise cost?

HashiCorp does not publish Boundary pricing. It is quoted, and since the IBM acquisition it is transacted on IBM licensing paper.

Keygen: Does Keygen charge for additional features like SSO?

SAML/SSO is included in Enterprise tiers. Whitelabel API support costs $995/year per domain. Premium Support SLA is $995/month for Enterprise.

Source
HashiCorp Boundary: Do I need Vault to use it?

No, but the just-in-time credential brokering that makes Boundary worthwhile depends on Vault or an equivalent secrets store.

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