Citi Prepares Institutional Crypto Custody Launch

Citigroup is quietly preparing to enter the digital asset custody business, signaling how far traditional banking has come in embracing cryptocurrency. The bank’s initiative reflects a growing shift on Wall Street, as major financial players look to integrate blockchain-based assets into their operations amid a more welcoming regulatory climate.

According to Biswarup Chatterjee, Citi’s global head of partnerships and innovation, the project has been in development for several years. The bank is building a platform designed to securely store and manage digital assets for institutional clients, including asset managers. The rollout will combine Citi’s in-house systems with vetted technology from fintech partners, forming a hybrid model meant to ensure both flexibility and strong security.

If successful, Citi would join an expanding list of global financial institutions offering regulated crypto custody solutions – an area long hampered by inconsistent standards and security concerns. Until now, institutional investors have been cautious to enter the sector due to the fragmented nature of existing custody options, ranging from personal wallets to exchange-held accounts.

Citi’s decades of experience in safeguarding client assets may help address these trust issues. The MOVE mirrors a wider transformation in finance, where legacy institutions are increasingly bridging the gap between traditional and digital asset markets.