Markets - Citigroup is set to unveil its bitcoin custody services for institutional clients by the end of this year, integrating cryptocurrency with traditional asset management.

The Wall Street bank's new Custody+ platform will facilitate bitcoin storage alongside conventional assets.

By Helene Braun|Edited by Cheyenne Ligon 34 min ago 2 min read

  • Citi plans to launch bitcoin custody later this year, allowing institutional clients to hold BTC alongside traditional assets.
  • The service will be part of Citi’s new Custody+ platform, which combines custody, settlement and other services for large investors.
  • This initiative aims to simplify bitcoin investments for institutions by providing a familiar banking framework.

Citigroup has announced its intention to offer bitcoin custody services later this year, aiming to integrate cryptocurrency management into its existing infrastructure that secures traditional assets for institutional investors.

The bank's institutional infrastructure division revealed the launch of Custody+, a comprehensive suite designed to expedite custody, settlement, foreign exchange, and cash management for large investors.

Although a specific launch date has not been confirmed, the initial offering will focus on bitcoin BTC$64,100.72, enabling clients to manage both traditional and crypto assets within the same framework.

Citi's custody services currently cater to clients in over 100 markets, including 62 where the bank operates its own custody network. By adding bitcoin custody, these clients will have the ability to store their bitcoin with the same institution that manages their equities and bonds, potentially easing the path for institutional investment in bitcoin without the need for a separate crypto custodian.

“Custody+ is the result of a multi-year effort to develop infrastructure that aligns with the rapid pace of our clients’ strategies,” stated Amit Agarwal, head of custody at Citi Investor Services.

This move towards bitcoin custody is part of a broader initiative by Citi to enhance the speed of its systems. The bank has implemented new technology in the U.S. that allows many custody-related tasks to be processed through a single system, significantly streamlining operations.

Citi reported that over 80% of custody events are now processed in real-time, and the new system has reduced processing times for these events by up to 92%, with 96% being completed within two hours.

Citi is not the first major financial institution to venture into bitcoin custody. BNY Mellon began offering crypto custody services to select U.S. clients in 2022, and other firms like Fidelity Digital Assets and Coinbase (COIN) already provide similar services to institutional customers. Moreover, U.S. banks have gained more regulatory flexibility to participate in this sector following the SEC's withdrawal of SAB 121 in 2025, which previously imposed higher costs on banks for safeguarding crypto assets for their clients.