Citi launches Bitcoin custody service for institutional clients

Citigroup is moving into digital asset custody. The American banking giant is announcing Custody+, a new service that will soon allow institutional clients to hold their Bitcoin with the bank. The launch is scheduled for later this year. It is one of the clearest signals to date that major US banks are structurally making the move into crypto. Business Wire reports.

Bitcoin is available at OKX and Bybit.

In short:

• Citi launches Custody+, a custody solution that combines traditional and crypto custody.
• Bitcoin is the first digital currency for which the service will be available.
• The service also integrates real-time settlement, liquidity management and AI-driven market analysis.

Traditional and crypto custody under one roof

Custody+ is built on Citi’s own digital infrastructure and combines the custody of traditional and digital assets within the same system. The goal is to offer institutional clients one central place for all their custody needs, without having to switch between different platforms or counterparties.

In addition to the custody of Bitcoin, the service also integrates real-time settlement, cash and liquidity management, currency exchange and market analysis based on artificial intelligence. This makes Custody+ more than just a vault for digital assets.

Tokenized deposits and 24/7 movement of money

Through Citi Token Services, clients can also move money almost instantly in the form of tokenized deposits, seven days a week and 24 hours a day, in selected markets. This is a further step towards the integration of traditional banking with blockchain technology.

The announcement fits a broader trend in which major financial institutions are expanding their services to digital assets. Jane Street previously disclosed more than one billion dollars in Bitcoin ETF positions. At the time of writing, Bitcoin is trading at $64K, up 1.1% over the past 24 hours. Whether the arrival of Citi as a custodian for institutional parties will attract further inflows will become clear in the coming months.