Global banking giant Citi (C) is targeting 2026 to launch its cryptocurrency custody service, allowing institutional clients to securely store digital assets including Bitcoin (BTC) and Ethereum (ETH), according to CNBC reporting.
This strategic expansion represents Citi's continued push into digital assets. Biswarup Chatterjee, Global Head of Partnerships and Innovation for Services at Citi, confirmed the custody platform has been under development for 2-3 years.
"We are exploring various solutions," Chatterjee told CNBC. "We aim to bring a credible custody service to market for our asset manager and institutional clients within the next few quarters."
The planned custody service addresses a critical infrastructure need, providing regulated storage solutions that traditional investors require for crypto market exposure.
Chatterjee revealed Citi is adopting a hybrid strategy, developing proprietary custody technology while evaluating third-party partnerships for specific asset types.
Citi's custody initiative joins its expanding digital asset portfolio. During Q2 earnings, CEO Jane Fraser mentioned exploring stablecoin issuance while prioritizing tokenized deposits. Recent Citi Ventures investment in BVNK, a stablecoin payments startup with Visa, follows previous blockchain experiments in trade finance and cross-border payments.
Successful launch would position Citi among traditional financial institutions expanding into crypto custody services.