Citi Plans to Launch Crypto Custody Services in 2026

Citi is set to introduce a crypto custody service in 2026, positioning itself as a notable player in the growing field of digital assets, according to CNBC. The bank has reportedly been developing this service for the past two to three years, focusing on holding digital coins and tokens for its clients. Biswarup Chatterjee, Citi’s global head of partnerships and innovation, expressed hopes for a credible custody solution to be offered soon to asset managers and other clients. This move reflects a broader trend among traditional banks, which are increasingly exploring digital asset services, including stablecoin offerings and crypto trading. Following the SEC's approval of Bitcoin and Ethereum exchange-traded funds by influential financial players like BlackRock and Fidelity, numerous U.S. banks are striving to engage further with the crypto market. Leading institutions such as JP Morgan and Morgan Stanley are also actively advancing their crypto capabilities. Additionally, a consortium of major banks, including Citi, is investigating the development of a stablecoin backed by reserves, emphasizing the industry’s shift toward digital currency integration.

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