Citigroup’s institutional infrastructure arm has announced plans to launch Custody+, a suite of services including bitcoin custody, later this year. The service will integrate crypto and traditional asset custody, allowing clients to manage bitcoin alongside stocks and bonds through the same framework.
Citigroup’s Custody+ will initially support bitcoin, expanding on the firm’s existing custody operations that serve clients across more than 100 markets. The service aims to streamline processes, with 80% of custody-related events processed in real time and 96% completed within two hours, according to internal data.
The move follows a broader industry shift, with firms such as BNY and Fidelity Digital Assets already offering crypto custody services to institutional clients. Citigroup’s entry into this sector underscores growing demand from investors seeking to manage digital assets alongside traditional holdings.
Amit Agarwal, head of custody at Citi Investor Services, described Custody+ as the result of a “multi-year commitment to building infrastructure that matches the speed of our clients’ strategies.” The service is expected to compete with providers such as Coinbase, which also offers institutional custody solutions.
The exact launch date for Custody+ has not been specified, though the service is reportedly slated for later this year. The U.S. Securities and Exchange Commission’s withdrawal of SAB 121 in 2025 may influence how banks structure their crypto custody offerings, though its direct impact on Citigroup’s plans remains unclear.
Written by Oliver Grant
Markets Desk
