- Citi Bank announced plans to launch a Bitcoin Custody+ program, allowing clients to hold Bitcoin alongside traditional assets.
- The custody service will go live later this year, with Bitcoin as the first supported digital asset, built on Citibank’s common digital asset architecture.
- Custody+ is part of a broader infrastructure overhaul, with over 80% of event volume now processed in real time and voluntary corporate actions seeing up to 92% faster processing.
- The bank’s CEO recently voiced support for U.S. digital asset market structure legislation, signaling increased institutional backing for crypto.
On August 18, Citi Bank announced that the $2.8 trillion asset manager will launch a Bitcoin Custody+ program later this year, enabling clients to store Bitcoin alongside traditional assets within a single custody framework. According to the press release, Custody+ is designed as a suite of near- and real-time services to meet the demands of continuous trading and faster settlement.
“Digital assets already operate on near-instant settlement, 24/7,” the bank stated, noting that the service will offer a one-stop custody experience. The announcement follows Citi’s completion of its Single Event Processing technology rollout across the U.S., which has reduced processing times for voluntary corporate actions by up to 92%.
Consequently, Citi has become a more vocal supporter of the crypto industry. Just last week, the bank called for the U.S. Senate to pass the new crypto bill, with CEO Jane Fraser expressing support for digital asset market structure legislation in an interview with Fox Business.
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