Citi Set to Launch Digital Asset Custody for Institutional Clients

Citigroup (C) is set to introduce digital asset custody services for institutional clients later this year, starting with Bitcoin. The service will be built on Citi's common digital asset architecture, giving clients access to both traditional and crypto custody within the same framework.

The Bitcoin custody launch is part of Custody+, a new suite of near- and real-time custody solutions the bank launched. This offering is described as a 'one-stop' experience, where clients will be able to access traditional and crypto custody in the same framework, rather than operating separate operational stacks for digital currencies.

Citi's Custody business serves clients in over 100 markets globally, with 62 of these being proprietary custody markets. This gives any potential Bitcoin custody offering one of the broadest institutional distribution footprints among U.S. banks entering the space.