Citi Enters Institutional Crypto Custody Market with Bitcoin Support
Citi is expanding its digital-asset services by introducing bitcoin custody for institutional clients through its Custody+ platform. The service combines traditional and crypto assets in a unified system, allowing institutions to hold bitcoin alongside stocks and bonds with the same bank.
The move positions Citi to compete with BNY, Fidelity Digital Assets, and Coinbase in the institutional crypto custody market, which is growing due to recent SEC regulatory changes. The platform's launch comes as part of Citi's effort to modernize its systems and speed up processing across custody operations.
Citi has introduced technology that handles many custody-related tasks through one system instead of moving them through several steps. As a result, over 80% of events are now processed in real time, with processing times reduced by as much as 92%, and 96% completed within two hours.