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Citi to add bitcoin custody to its Custody+ platform later this year

Citi says Custody+ will start with bitcoin and roll in faster servicing, including real-time processing for over 80% of custody events and up to 92% shorter processing times.

Reported · Written up by our desk · Market Structure

Citi expects to launch bitcoin custody later this year as part of its new Custody+ platform, aiming to let institutional clients hold BTC alongside traditional assets within the same infrastructure. The service is designed to combine custody, settlement, and other asset servicing capabilities for large investors, rather than requiring them to rely solely on a separate crypto custodian.

According to CoinDesk, the platform will begin with bitcoin and provides access to both traditional and crypto custody through one framework. Citi also said its custody operation serves clients across more than 100 markets, including 62 where it runs its own custody network, which could help institutions keep bitcoin with the same bank that safeguards stocks and bonds.

Citi is positioning Custody+ around system speed improvements. The bank said more than 80% of certain custody-related events are now processed in real time and that its new system has cut processing times for those events by as much as 92%, with 96% completed within two hours.

The Block reports that Custody+ will also include real-time asset servicing, instant settlements, liquidity tools, and AI-powered market intelligence. CoinDesk noted Citi is not alone among large financial firms, with BNY offering crypto custody for some U.S. clients in 2022 and providers like Fidelity Digital Assets and Coinbase already supporting institutional custody.

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