Citigroup Plans to Launch Bitcoin Custody Service in the U.S. by 2026
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Citigroup plans to launch a digital asset custody service for institutional clients in the United States in 2026. Bitcoin (BTC) has been mentioned as the first target asset. Citigroup is advancing its crypto custody services in response to regulatory changes in the U.S. and is currently in the planning stage. The bank's digital asset strategy centers around the Consolidated Digital Asset Platform (CIDAP), which supports the issuance, transfer, and custody of assets on the blockchain. Citigroup is investing in digital asset custody and is preparing to allow clients to store crypto assets in a regulated environment. Digital asset custody includes wallet management, access controls, internal controls, and regulatory reporting functions. Citigroup already offers services that combine custody and issuance functions in the tokenized securities space and plans to launch a digital depository receipt based on private company equity on June 11, 2026. The scale of Citigroup's custody assets is approximately $24 trillion, and digital asset custody will be layered on top of its existing large custody business. The Office of the Comptroller of the Currency (OCC) has reaffirmed that banks are allowed to engage in crypto asset custody activities, and a competitive landscape is forming. BNY Mellon and State Street are each operating digital asset custody platforms. Citigroup's plans have not yet officially launched, and details of the service have not been disclosed.
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