Citi Plans to Offer Bitcoin Custody for Institutional Clients This Year, Adding to Custody+ Platform

Citi plans to offer bitcoin custody services for institutional clients later this year through its Custody+ platform. The service will place bitcoin within the same custody framework as traditional assets such as equities and bonds, allowing clients to access custody, settlement, foreign exchange, cash, and liquidity services through a single system. Bitcoin will be the first digital asset supported by Citi's new custody service, and Citi has not yet announced a specific launch date or initial client list. Custody+ was launched by Citi Investor Services, with Citi's custody business covering over 100 markets and operating its own custody network in 62 markets. Citi stated that its goal is for the bank to custody native digital assets itself, rather than relying solely on external exchanges or other digital asset companies. The project has been in development for approximately two to three years, with Citi first disclosing related plans in 2025. Custody+ will offer real-time settlement, foreign exchange services, automated hedging, cash management, and liquidity tools. Its Single Event Processing system within the custody platform currently handles over 80% of event volume in real time; in the U.S., the system reduces processing time for certain voluntary corporate actions by up to 92%, with 96% of related events completed within two hours. Chris Cox, head of Citi Investor Services, stated that Citi invests over $2 billion annually in its Services platform.