Citigroup said it will launch Custody+, a digital asset custody service for institutional clients, later this year starting with Bitcoin. The suite integrates real-time settlement, cash and liquidity management, and FX capabilities within Citi's common digital asset architecture.
The product represents Citi's first institutional-grade custody offering for crypto assets after the bank announced its intent to build one in February. Custody+ is designed to combine traditional and digital asset custody in a single framework, allowing institutional clients to manage both without separate systems. The service will be built on infrastructure Citi has been constructing for tokenized deposits, which the bank already moves near-instantaneously across select markets on a 24/7 basis through Citi Token Services.
The announcement positions Citi alongside competitors that have already built crypto custody capabilities for institutions. JPMorgan launched its own digital asset custody service in 2023. Goldman Sachs and Morgan Stanley have expanded their own crypto trading and custody efforts over the same period, though neither has yet offered full institutional custody for Bitcoin.
Custody+ will integrate AI-powered market intelligence as part of its feature set. The suite is designed for institutions that need to custody digital assets while maintaining access to traditional banking services, eliminating the need to split operations between a bank and a specialist crypto custodian.
Citi has 300 million institutional, corporate and consumer clients globally, according to the bank's latest disclosures. The custody market for digital assets remains fragmented between traditional custodians adding crypto services and specialist firms like Fidelity Digital Assets and Coinbase Custody that have built from the ground up for crypto holdings.
Citi's launch comes as institutional adoption of Bitcoin has accelerated through spot exchange-traded funds approved in the United States in January 2024, which created new demand for custody infrastructure that integrates with traditional banking systems. The number of institutions using third-party custody for Bitcoin holdings has grown steadily, though custody concentration among the largest providers remains high.
The specific launch date within the remainder of 2026 and the minimum account size or fee structure for Custody+ have not yet been disclosed. Citi will control whether it meets its stated timeline to go live with Bitcoin custody by year-end.
