Bitcoin · U.S. · Bitcoin Magazine
The bank first debuted is set to debut a digital asset custody service last year
Compiled by KHAO Editorial — aggregated from 1 source. See llms.txt for citation guidance.
◌ Single Source
Citi is the latest American bank to move deeper into the digital asset space following friendlier legislation and pro-crypto approach from U.S. regulators.
Key facts
- Speaking about the long-awaited crypto Clarity Act last week, Citigroup CEO Jane Fraser said that the bank was a “leader in digital assets
- Custody+ is a clear example of this investment as we build infrastructure to eliminate latency and drag for institutional investor clients,” Head of Investor Services at Citi, Chris Cox, said
- Citi’s new custody service runs parallel to its broader blockchain offerings, including Citi Token Services, which enables real-time cross-border payments using tokenized deposits
- The firm since last year has also been working with other top banks, including Deutsche Bank, Goldman Sachs, and Bank of America, to explore issuing a stablecoin product
Summary
The bank's new Custody+ service will allow institutional investors to hold Bitcoin alongside other assets on one platform. The bank first announced plans to debut a digital asset custody service last year. “Custody+ is a clear example of this investment as we build infrastructure to eliminate latency and drag for institutional investor clients,” Head of Investor Services at Citi, Chris Cox, said in a statement. The service, according to Citi, will let clients process every asset servicing transaction through a “single seamless flow.”