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BTC Citi will hold Bitcoin for institutional clients later this year.
The bank said on Tuesday it will include the cryptocurrency in Custody+, the same platform its investor services arm uses for traditional securities. The move is significant for asset managers, who have long wanted digital assets to be held by a regulated U.S. bank rather than a crypto-native company.
Citi uses a unified framework for tokens and traditional securities
Citi integrates digital asset custody into Custody+, a new investor service platform for the 24/7 trading market with faster settlement speeds than traditional T+1. Customers will be able to view their traditional and Bitcoin positions simultaneously on the same interface. Citi said the crypto service is built on a universal digital asset architecture, and the platform is already capable of transferring tokenized deposits in some markets around the clock.
Bitcoin is the first supported token. Custody+ also integrates real-time asset services, instant settlements, liquidity tools, and what Citi calls artificial intelligence-driven market intelligence.
Project progress and timetable
Citi announced its native crypto hosting plan in November 2025. Biswarup Chatterjee, the bank's global director of collaboration and innovation, said in October that the project had been under development for nearly three years. At the time, he said Citi wanted to provide asset managers and institutional clients with a "trusted custody solution" where banks would hold native tokens themselves rather than route them through external exchanges. Some services will be built internally, while others may rely on "third-party lightweight flexible solutions." Tuesday's update associated the service with Custody+ and established a launch window later this year.
Changes in the regulatory environment
In 2025, the OCC cleared the way for banks to carry out crypto custody. The GENIUS bill makes it easier for banks to handle stablecoins and other blockchain assets. In May 2025, the Office of the Comptroller of the Currency (OCC) informed institutions that they could provide crypto custody services. The SEC repealed Employee Accounting Bulletin 121 (SAB 121), which made holding customers 'crypto assets require significant amounts of capital, and replaced it with a more friendly SAB 122.
It has been previously reported that in September 2025, U.S. Bancorp and NYDIG restarted their institutional Bitcoin escrow service as sub-custodians, joining Bank of New York Mellon, Fidelity, Coinbase and Anchorage Digital. Deutsche Bank said it will launch custody services in 2026 with the assistance of Bitpanda. Instead, JPMorgan CEO Jamie Dimon said the bank allows customers to purchase cryptocurrencies but will not hold them in custody.
Other relevant initiatives of Citi
In January, Citi partnered with Intercontinental Exchange to conduct tokenized deposit testing at its clearing house. In July, the bank joined the Swift pilot to test the use of tokenized deposits for round-the-clock cross-border payments. In addition, Citi is one of the U.S. banks that supports the establishment of a tokenized deposit network through The Clearing House, which is scheduled to launch in the first half of 2027. When the news broke, Bitcoin was trading at approximately US$64,660.
