Citi to Launch Bitcoin Custody for Institutional Clients Later This Year

Citigroup has announced plans to launch Bitcoin custody for institutional clients later this year. The bank's new suite of real-time custody solutions, Custody+, will allow clients to hold both traditional and digital assets within the same framework.

The core pitch is simplicity: no separate infrastructure is needed for each type of asset. Citi Token Services already facilitates near-instant tokenized deposits across select markets, and Bitcoin custody extends this foundation into digital assets.

Custody+ packages several capabilities under one roof, including real-time asset servicing, instant settlements, real-time cash and liquidity, accelerated tax processing, and on-demand FX. The platform now processes over 80% of Citi's asset-servicing volume in real time, reducing voluntary corporate actions by up to 92%. This is the result of completing its US rollout of Single Event Processing technology.

Citi Head of Custody Amit Agarwal noted that 'Custody+ is the product of a multi-year commitment to building infrastructure that matches the speed of our clients' strategies.'