Citi Prepares to Launch Crypto Custody Services with Focus on Bitcoin

Citi, one of the world's leading banks, is set to launch its crypto custody services later this year. The bank has revealed that it will start by offering custodial services for Bitcoin, with plans to expand its offerings to other cryptocurrencies in the future.

The new service, called Citi Crypto Custody, will be provided through the bank's recently introduced Custody+ platform. This platform combines traditional custody solutions with crypto custody, enabling institutional clients to manage both types of assets from a single system.

Citi has stated that its digital asset architecture will link crypto custody services with its traditional custody, providing an easier way for institutions to manage different classes of assets without having to use separate custody arrangements.