Citi Set to Launch Bitcoin Custody Service for Institutional Investors

Citi is set to launch its bitcoin custody service later this year, allowing institutional investors to manage both traditional assets and bitcoin within one framework. This move follows Citi's previous announcement of developing a digital asset custody service last year.

The bank's new service, Custody+, will provide clients with continuous, near-instant visibility and execution across various financial activities, including servicing, settlement, FX, cash, and data. Clients will also have the flexibility to integrate digital assets or build their own offerings on top of Citi's infrastructure.

Citi is not alone in its efforts to cater to institutional investors' growing interest in cryptocurrencies. Other major banks, such as Deutsche Bank, Goldman Sachs, and Bank of America, are also exploring ways to provide stablecoin services.