Key facts
- Citigroup plans to launch institutional digital asset custody services, starting with Bitcoin, later this year.
- The new service will be part of Citi's Custody+ platform, integrating traditional and crypto custody.
- Clients will be able to hold Bitcoin alongside traditional assets within the same banking framework.
- The move aims to simplify crypto investment for institutions by using a major bank's infrastructure.
- Citi is investing significantly in its platform strategy to improve speed, scale, and availability.
Citigroup is preparing to launch institutional digital asset custody services, with Bitcoin as the initial offering, later this year. This initiative is part of the bank's broader strategy to enhance its platform capabilities and cater to increasing institutional demand for regulated crypto services.
The new service, branded Custody+, will integrate the custody of traditional assets with that of cryptocurrencies, allowing institutional clients to manage both within a unified framework. This aims to streamline the investment process for institutions by enabling them to hold Bitcoin with the same bank that safeguards their stocks and bonds, potentially reducing the need for separate crypto custodians.