Citi Plans Bitcoin Custody for Big Investors

Traditional finance is stepping further into crypto as banking giant Citi prepares to launch a new digital asset custody service. The $2.8 trillion asset manager announced the upcoming release of its Custody+ program. Institutional clients will soon be able to hold Bitcoin right alongside their traditional financial assets within the same setup.

Citi plans to roll out the service later this year, with Bitcoin serving as the first supported digital asset. The bank designed the new framework to handle 24/7 trading and fast settlements, matching the speed of blockchain networks. This move follows major upgrades to Citi processing technology, which has greatly sped up handling times for US corporate actions.

This announcement highlights Citi growing support for the digital asset sector. Just last week, CEO Jane Fraser urged the US Senate to pass new crypto market structure legislation. Traders should watch for the official launch later this year, as more institutional money finding a secure home in Bitcoin could bring fresh momentum to the market.

This update is for informational purposes only and does not constitute financial advice. Always do your own research before making any investment decisions.