Citi to Debut Digital Asset Custody Later This Year With Bitcoin Support
Citi Investor Services is set to launch its digital asset custody offering later this year, with Bitcoin as its first supported asset. This move marks a significant step in the bank's efforts to provide institutional investors with access to traditional and digital assets within a single framework.
The new custody solution, Custody+, is built on Citi's common digital asset architecture and allows clients to access both traditional and Bitcoin custody under one umbrella. This modular suite of near- and real-time custody solutions aims to eliminate latency and drag for institutional investor clients, according to Chris Cox, Head of Investor Services at Citi.
The launch coincides with the completion of the U.S. rollout of Citi's patented Single Event Processing technology, which has reduced processing times for voluntary corporate actions by up to 92%. Over 80% of the bank's total event volume is now handled in real-time, with 96% of U.S. voluntary events processed in under two hours.