Citigroup plans to launch Bitcoin custody for institutional clients later in 2026, incorporating the cryptocurrency into the same infrastructure the bank uses to safeguard traditional assets such as stocks and bonds.
Custody+ and integrated asset servicing
The Bitcoin custody service will form part of Custody+, a new suite of custody, settlement, foreign exchange, and cash-management services announced by Citi's institutional infrastructure division. Custody+ will initially support Bitcoin, giving institutional clients access to both traditional and cryptocurrency custody services through a single framework. Citi has not provided a specific launch date for the service.
Citi's custody business currently serves institutional clients across more than 100 markets, with the bank operating its own custody network in 62 of those markets. By integrating Bitcoin into this existing infrastructure, eligible clients would be able to store the cryptocurrency with the same institution that manages their other assets, potentially simplifying reporting, risk management, and operational oversight across multiple asset classes.
Company commentary
A company official at Citi Investor Services said Custody+ reflects a multi-year effort to build infrastructure capable of supporting the pace of clients' investment strategies.
Technology supporting real-time processing
Citi's Bitcoin custody plans form part of a broader modernisation of the bank's institutional infrastructure. The bank has introduced technology in the US that processes multiple custody-related events through a single system, replacing a previous process involving several separate stages. According to Citi, more than 80% of eligible events are now processed in real time, with processing times reduced by as much as 92% and 96% of events completed within two hours.
These processing improvements are relevant to cryptocurrency markets, which operate continuously rather than following the limited trading hours associated with traditional financial markets. Custody providers serving digital asset clients require systems capable of processing transactions and managing risk outside standard banking hours, and Custody+ is intended to provide infrastructure suited to this continuous environment.
Competitive context in institutional crypto custody
Citigroup is not the first major financial institution to enter the Bitcoin custody market. BNY began offering cryptocurrency custody to certain US clients in 2022, while Fidelity Digital Assets and Coinbase also operate established custody platforms for institutional investors. Citi's international custody network may provide an advantage among institutions already using the bank for global custody and cash management, though it will compete with providers that have developed specialised digital asset infrastructure over a longer period.
Regulatory context
The regulatory environment for bank-provided crypto custody in the US became more favourable following the Securities and Exchange Commission's withdrawal of Staff Accounting Bulletin 121 (SAB 121) in 2025. SAB 121 had required companies safeguarding customer cryptocurrencies to record related assets and liabilities on their balance sheets, an accounting treatment that increased the cost of digital asset custody for regulated banks due to associated capital requirements. Its withdrawal removed a significant barrier for traditional financial institutions considering cryptocurrency custody services.
Outlook
The eventual success of Custody+ is expected to depend on factors including its pricing structure, security controls, geographic availability, and the range of cryptocurrencies Citi chooses to support beyond Bitcoin.
