Citi is preparing to launch its crypto asset custody service in 2026, marking a major step in Wall Street’s growing embrace of digital assets.
According to Biswarup Chatterjee, Citi’s global head of partnerships and innovation, the bank has spent the last two to three years developing the infrastructure for digital asset custody and is now nearing readiness. “We’re hoping that in the next few quarters, we can come to market with a credible custody solution for our asset managers and institutional clients,” Chatterjee told CNBC.
The custody service will enable Citi to hold native cryptocurrencies such as Bitcoin and Ethereum on behalf of its clients, similar to how the bank safeguards traditional financial assets. The initiative aligns with the pro-crypto regulatory framework established under President Trump’s administration, particularly through the GENIUS Act, which has provided clearer oversight for areas like stablecoins and institutional digital asset services.
Citi’s model will combine in-house technology with third-party solutions, offering flexibility across client segments and asset types. “Some solutions will be designed and built internally, while others may involve lightweight third-party integrations,” Chatterjee explained.
The move positions Citi among a new wave of major financial institutions preparing to enter the regulated digital asset custody market — an area long viewed as critical for institutional adoption of cryptocurrency.