Morning Minute: Citi Sets Sights on 2026 for Crypto Custody
Citigroup plans to launch institutional crypto custody services in 2026, targeting asset managers and other institutional clients. This marks an ongoing move by major traditional finance (TradFi) players toward supporting digital assets. Citi has spent two to three years developing a custody platform focused on qualified digital asset safekeeping with bank-grade controls and service level agreements. The roadmap includes related services such as fund administration, collateral management, and tokenized cash rails. Alongside custody, Citi is building a digital cash platform and is evaluating both stablecoin services and the possibility of issuing a stablecoin, though initial emphasis remains on tokenized bank money and stablecoin reserve custody. This approach prioritizes trusted custody, followed by money transfer rails, and leaves the option of issuing consumer stablecoins for later. If successful, Citi’s entry could further normalize crypto in traditional banking and accelerate more crypto adoption among financial institutions, signifying a new phase in the integration of crypto and mainstream finance.
