Citi is moving ahead with plans to offer digital asset custody, including Bitcoin, according to CryptoBriefing and The Block. The new service will operate under a platform the bank calls Custody+. Citi expects to bring the offering to market later this year, the reports said.
Custody has become a key battleground for banks entering digital assets. Institutional investors need secure, regulated storage for Bitcoin and other tokens before they commit larger sums. A major bank offering this service could ease some of those concerns for cautious institutional clients.
Citi is one of the largest custodian banks in the world, overseeing trillions of dollars in traditional assets. Its entry into crypto custody signals growing acceptance of digital assets inside mainstream finance. It also reflects a broader trend of large banks building infrastructure for institutional clients rather than retail traders.
The timing lines up with a wider push among global banks to build out digital asset services. Several major financial institutions have already launched or piloted crypto custody products in recent years. Regulatory clarity in some jurisdictions has made it easier for banks to justify these investments.
Details on the scope of Custody+ remain limited based on current reporting. It is not yet clear whether the platform will support tokens beyond Bitcoin at launch, or what fee structure Citi plans to use. The bank has not specified an exact launch date beyond the general timeframe of later this year.
Citi's move follows years of cautious engagement with digital assets across the banking sector. Many large banks have studied blockchain infrastructure while waiting for clearer rules before offering direct custody. A concrete launch plan from a bank of Citi's size marks a shift from exploration toward active deployment.
The custody business is often seen as a gateway to other services, including trading, lending and settlement tied to digital assets. Banks that build strong custody operations can later expand into adjacent products for institutional clients. Citi's Custody+ platform may serve as a foundation for further digital asset offerings down the line.
Market Impact
A Bitcoin custody launch from a bank of Citi's scale could influence how other large financial institutions approach digital assets. Institutional clients who have avoided crypto exposure due to custody concerns may find a regulated bank option more appealing. This could support increased institutional participation in Bitcoin markets over time.
The move also adds competitive pressure on existing crypto custodians and other banks weighing similar services. If Custody+ launches successfully, it may accelerate similar announcements from peer institutions seeking to avoid falling behind. Market reaction will likely depend on further details about pricing, supported assets and regulatory approvals as the launch date approaches.
Citi's planned Bitcoin custody service marks another step toward mainstream bank involvement in digital assets. Further details on Custody+ are expected as the year progresses.
Frequently Asked Questions
What is Custody+?
Custody+ is the name of the new platform Citi plans to use for its upcoming digital asset custody service, which will include Bitcoin.
When will Citi launch its Bitcoin custody service?
Citi expects to launch the service later this year, according to reports from CryptoBriefing and The Block, though an exact date has not been specified.
Will Custody+ support assets beyond Bitcoin?
Current reporting confirms Bitcoin will be included, but it is not clear whether other digital assets will be supported at launch.
Why does bank-provided crypto custody matter for the market?
Regulated custody from major banks can reduce security and compliance concerns for institutional investors, potentially encouraging broader adoption of digital assets.