Citi has plans to launch a crypto custody service in 2026, reports CNBC. As with many other major traditional financial institutions in the US, the bank is riding a wave of renewed enthusiasm in digital assets. Under the Trump administration, new laws such as the GENIUS Act are indicating a decisive move away from the harsh regulatory environment imposed upon the sector by the last administration.
CNBC spoke to Biswarup Chatterjee, global head of Partnerships and Innovation at Citi Services, who revealed that the bank has been developing a crypto custody service for the past two to three years. With the new service, Citi intends to hold the native cryptocurrency. The firm is considering both an in-house and third-party solutions for custody, depending on the asset types.
Last year, Citi Token Services went from pilot to live implementation with Citi Token Services for Cash. It’s a deposit token that functions as a digital representation of a commercial bank deposit to enable the cross-border movement of money 24/7-
Citi’s other plans in the digital space include stablecoins. Earlier this month, its capital venture arm, Citi Ventures, had invested an undisclosed sum in stablecoin infrastructure startup BVNK.
