In brief
- Citi expects to launch digital asset custody later this year, starting with Bitcoin.
- The service will let institutional clients access traditional and crypto custody through the same framework.
- Citi Token Services already supports 24/7 transfers of tokenized deposits in select markets.
Citi is preparing to add Bitcoin custody alongside traditional assets as the banking giant builds out its digital asset infrastructure.
Announced on Tuesday, the service will be part of Custody+, a suite of custody and settlement tools. The bank said clients will be able to access traditional securities and crypto custody through the same framework.
The announcement expands on plans Citi revealed in October to launch institutional Bitcoin custody in 2026.
“Custody+ is the product of a multi-year commitment to building infrastructure that matches the speed of our clients’ strategies,” Amit Agarwal, Head of Custody at Citi Investor Services, said in a statement. “We have designed each solution to help clients simplify their operating models amid increasing complexities in the operating environment.”
Citi said more than 80% of its asset-servicing event volume is now processed in real time. Its Citi Token Services platform also allows clients to move tokenized deposits nearly instantly, 24 hours a day, across select markets.
“Custody+ is our response to their evolving needs as the industry continues to transform, moving away from legacy to next-generation architecture,” Agarwal added.
The announcement comes as major banks expand their digital asset businesses.
In January, the New York Stock Exchange said it was working with Citi and BNY on a planned blockchain-based platform supporting tokenized stocks and ETFs. In February, Morgan Stanley applied for a national trust bank charter for an entity that would offer crypto custody.
Daily Debrief Newsletter
Start every day with the top news stories right now, plus original features, a podcast, videos and more.