Citi plans to launch bitcoin custody services for institutional clients later this year, the bank said. The service will be offered through a new platform called Custody+, which lets clients hold bitcoin alongside their traditional assets.
One-stop custody
Custody+ is a new offering, and its headline feature is straightforward: institutional clients will be able to keep bitcoin in the same place as their existing holdings. That means no separate wallets, no separate custodians, no extra operational headaches. For a fund manager or a corporate treasury, that's a meaningful simplification.
The platform is designed for institutions, not retail. Citi hasn't said whether it will expand to other cryptocurrencies, but the initial focus is on bitcoin.
Launch timeline
Citi expects to launch Custody+ later this year. The bank hasn't given a specific date, and it's still building out the service. The announcement gives institutions a heads-up that the option is coming, so they can start planning their custody arrangements.
Citi's crypto push
The move puts Citi in a growing group of banks that have decided to offer direct crypto custody. Institutional investors have been asking for a way to hold digital assets without leaving the traditional banking system, and Citi is responding to that demand. The fact that it's offering bitcoin alongside traditional assets suggests the bank sees crypto as a permanent part of the financial landscape, not a passing fad.
For now, the service is limited to bitcoin, and the launch is still months away. But the direction is clear: Citi wants to be a one-stop shop for institutional assets, both traditional and digital.
