Citigroup plans to launch cryptocurrency custody service in 2026

According to CNBC, Biswarup Chatterjee, Global Head of Partnerships and Innovation for Citibank's Banking Services business, recently revealed that, as many major Wall Street institutions continue to increase their strategic investments in the digital currency sector, Citi is actively advancing its crypto asset custody services, with plans to officially launch the service in 2026.

Chatterjee stated that over the past two to three years, Citi has made significant progress in related technology development and business architecture. The bank expects to launch a reliable, secure, and compliant crypto asset custody solution for institutional clients, including asset managers, within the coming quarters. Notably, Citi plans to directly hold clients' native cryptocurrencies within this service to enhance asset control and operational transparency.

Citi is currently maintaining an open mind regarding the technical implementation path, considering both independent system development based on its own technical expertise and actively evaluating partnerships with third-party professional service providers to build a custody infrastructure that meets institutional standards.

Chatterjee also pointed out that stablecoins may demonstrate strong application potential and market appeal in regions with underdeveloped banking and payment systems. As Citibank's business network gradually expands into these emerging markets and deepens its business interactions with suppliers and customers, launching stablecoin products that meet local needs may become feasible. However, he emphasized that Citibank's research in the stablecoin field is still in the early stages of exploration and has not yet formed a specific product roadmap.

Citibank's move further reflects the accelerated embrace of digital assets by traditional financial institutions and their forward-looking strategic positioning in the cryptocurrency service sector.