Citigroup Explores Stablecoin Custody & Crypto Asset Services Amid Regulatory Shifts

Citigroup is cautiously advancing into cryptocurrency custody, with a focus on safeguarding reserves for stablecoins and exchange-traded products. The move reflects growing institutional interest as regulatory frameworks evolve under the Trump administration.

Biswarup Chatterjee, Global Head of Partnerships at Citi, emphasized the bank's initial focus on custody services for stablecoin collateral. "Providing custody for high-quality assets backing stablecoins is our first priority," he stated, aligning with new U.S. legislation promoting treasury-backed stablecoins for payments.

The bank is simultaneously developing infrastructure for stablecoin payment networks and instant dollar conversions. This strategic pivot comes as Hong Kong regulators tighten oversight on speculative crypto hype, creating a bifurcated regulatory landscape.