Citi to launch Bitcoin custody by year-end across 100 markets

Citi plans to launch a digital-asset custody service by year-end, starting with Bitcoin, across its 100-market network through a new platform called Custody+.

"Citi's Services business invests over US$2 billion annually in its platform strategy with a focus on speed, scale and availability," Chris Cox, Head of Investor Services at Citi, said. "Custody+ is a clear example of this investment as we build infrastructure to eliminate latency and drag for institutional investor clients."

The bank's custody business supports clients in more than 100 markets, including 62 proprietary markets. The U.S. rollout of its Single Event Processing technology has reduced processing times for voluntary corporate actions by up to 92 percent, with 96 percent of all U.S. voluntary events now processed in under two hours. Over 80 percent of Citi's total event volume is processed in real-time. AI-led innovation has also cut documentation processing times by up to 70 percent.

Digital assets already operate on near-instant settlement, 24/7, and Citi expects to go live with Bitcoin custody later this year. The service is built on Citi's common digital asset architecture, offering clients a one-stop custody experience where traditional and crypto assets are managed within the same framework. This marks a significant step for institutional investors as major banks expand digital asset infrastructure.

The Custody+ suite includes real-time asset servicing, instant settlements, on-demand FX, real-time cash and liquidity management, accelerated tax processing, and actionable market intelligence. Through Citi Token Services, the bank is enabling near-instantaneous movement of tokenized deposits on a 24/7 basis across select markets.

Citi joins a growing list of traditional financial institutions entering digital asset custody. BNY Mellon and State Street have also expanded crypto custody offerings, while Coinbase Custody remains the dominant standalone provider. The move reflects a broader trend of banks building digital asset infrastructure to serve institutional clients seeking exposure to Bitcoin.

Amit Agarwal, Head of Custody at Citi Investor Services, said the platform is designed to help clients simplify their operating models as the industry moves from legacy to modern architecture. The bank's white-label platform capabilities also allow clients to access Citi's infrastructure to deliver enhanced capabilities to their customers.

The launch timeline aligns with the broader institutional push into digital assets, as spot Bitcoin ETFs have accumulated significant assets since their January 2024 debut. Citi's entry into Bitcoin custody could accelerate adoption among traditional asset managers who require bank-grade custody solutions. The bank's existing relationships with pension funds, sovereign wealth funds, and asset managers across its 100-market network give it a distribution advantage that standalone crypto custodians lack.

This article is for informational purposes only and does not constitute investment advice.