Citi Advances Toward 2026 Crypto custody Launch
Citi is gearing up to launch a crypto custody service by 2026. This move aims to provide secure storage for institutional clients’ digital assets. The bank is developing a hybrid model that combines in-house technology with third-party partnerships.
On October 13, CNBC reported that Biswarup Chatterjee, Citi’s global head of partnerships and innovation, confirmed the 2026 target. Chatterjee explained that the bank has been working on this service for the past two to three years. The hybrid model will use both in-house solutions and third-party services to securely hold native cryptocurrencies.
Citi’s custody service is a response to the risks associated with crypto exchanges and digital asset theft. As a regulated entity with a strong track record in safeguarding traditional assets, Citi aims to offer a secure alternative. this bank-grade approach helps mitigate the risks of self-custody and the pitfalls of some crypto-native platforms.
The progress also aligns with citi’s broader pivot toward blockchain-based financial infrastructure. It comes as other Wall Street giants, like JPMorgan and Bank of america, advance their own digital asset initiatives. Recently,Citi joined a consortium of banks to explore stablecoin applications and invested in BVNK,a U.K.-based stablecoin infrastructure firm.
By offering a regulated path to crypto custody, Citi aims to build trust and operational resilience in the digital asset space. This move could substantially impact the future of digital finance.
