Citigroup to Launch Institutional Crypto Custody Service by 2026

Citigroup Inc. is preparing to introduce a cryptocurrency custody service for institutional clients by 2026, marking a significant expansion into digital asset services. The move comes as regulatory clarity improves under the Trump administration, encouraging traditional financial institutions to engage with the crypto market.

Biswarup Chatterjee, global head of partnerships and innovation at Citi, revealed the bank has spent two to three years developing the offering. "We're hoping to bring a credible custody solution to market within the next few quarters," Chatterjee told CNBC. The service will involve holding native cryptocurrencies on behalf of asset managers and other institutional clients.

The custody solution will provide an alternative to exchange-based custody or self-custody arrangements, leveraging Citi's established infrastructure and security practices. The bank is evaluating both in-house technology development and third-party partnerships, potentially using different approaches for various asset types and client segments.