Overview
- Citi executives said the bank is in advanced development of a service to safeguard native cryptocurrencies, targeting availability in 2026 after two to three years of work.
- Planned features include a hybrid architecture that uses Citi-built tools for some assets and vetted external providers for others to meet differing client and asset requirements.
- The offering is designed for asset managers and other institutions seeking bank-grade controls for storing bitcoin, ether, and similar assets.
- Citi’s push aligns with broader bank initiatives that include exploration of reserve‑backed stablecoins, with Citi Ventures investing in infrastructure firm BVNK and a multi‑bank group studying G7‑pegged tokens.
- JPMorgan confirmed it will enable client crypto trading but is not offering custody for now, focusing instead on deposit tokens like JPMD and evaluating external custodians.