- Citi plans to offer institutional crypto custody services by 2026 in the U.S.
- The initiative focuses on secure safekeeping and digital asset services for asset managers and institutions.
- Citi is exploring a stablecoin and developing tokenized cash services as part of its digital strategy.
- Market updates show major cryptocurrencies declined as trade war tensions escalated, with Bitcoin at $111,000 and Ethereum near $4,000.
- Additional headlines highlight new product launches, regulatory calls, and developments in meme and NFT markets.
Citi has announced plans to launch crypto custody services targeted at institutional clients by 2026. The move is part of a growing trend among large U.S. banks to expand their services in the digital asset sector.
According to Citi, the new service will focus on secure custody for digital assets, catering to asset managers and other financial institutions. The bank has developed its custody technology over several years and aims for a 2026 rollout.
The initial phase will deliver “qualified safekeeping” of digital assets, with added bank-level controls and service agreements. “We’re hoping that in the next few quarters, we can come to market with a credible custody solution that we can offer to our asset managers and other clients,” said Biswarup Chatterjee, Citi’s global head of partnerships and innovation. Citi is also building out its digital cash infrastructure and evaluating the introduction of a stablecoin, according to CNBC reports. Fast Company commented on the move, saying, “If Citi succeeds, crypto won’t feel rebellious anymore. It’ll feel like banking. And that might be the point.”
Citi’s roadmap extends beyond custody, also covering fund administration, collateral management, and tokenized cash services. For now, the emphasis remains on providing institution-grade custody, with tokenized money rails and stablecoin reserve management as the next steps.
The announcement comes as cryptocurrency prices fell, following increases in trade-war talk. Bitcoin traded around $111,000 and Ethereum dipped to about $4,000. Notable movers included MYX, TAO, and CAKE, while meme tokens such as DOGE and PEPE experienced declines. Other developments noted today include Ripple’s $200,000 initiative for protocol testing and a push for clearer U.K. crypto regulations by Nigel Farage at DAS London. New platforms, like Trade xyz, also expanded access to traditional stock derivatives.
Citi’s announcement signals increasing involvement of major traditional financial institutions in the crypto space, with further product developments expected if institutional demand grows after 2026.
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