After three years of development, Wall Street giant Citi is preparing to launch a crypto custody service that will allow it to hold Bitcoin and Ethereum on behalf of clients.
U.S.-based banking giant Citi is gearing up to roll out its long-awaited digital asset custody platform in 2026, according to CNBC. The move will enable the bank to securely hold cryptocurrencies such as Bitcoin (BTC) and Ethereum (ETH) for its clients — marking one of the most significant steps yet by a traditional financial institution into digital asset infrastructure.
Biswarup Chatterjee, Citi’s Head of Innovation for Global Partnerships and Services, said the project had been “quietly in development for two to three years.” He added that the bank aims to deliver a “credible custody solution” to clients within the next few quarters. Citi plans to take a hybrid approach — developing part of the system internally while leveraging select third-party technologies.
Beyond custody, Citi is also exploring issuing its own stablecoin and developing tokenized deposit products. CEO Jane Fraser emphasized during the bank’s July earnings call that tokenized deposits remain Citi’s primary focus. Last week, Citi Ventures co-invested with Visa in BVNK, a startup focused on stablecoin payments, further highlighting its growing blockchain ambitions.
If realized, Citi’s plan would make it one of the few major Wall Street banks to offer crypto custody services — signaling a deeper institutional shift toward integrating digital assets not just as investments but as part of core financial infrastructure.
