Reflecting the accelerating integration of traditional financial institutions with the digital assets world, Citibank announced plans to offer crypto custody services by 2026, further strengthening Wall Street’s push toward adopting digital financial infrastructure.
Biswaroop Chatterjee, head of partnerships and innovation at the bank’s services unit, explained to CNBC that Citibank has been working for about three years to develop an integrated and secure platform for storing digital assets, noting that the project has achieved significant progress on both the technical and regulatory levels.
Chatterjee added that the bank plans to launch the service in the next few quarters, once final testing is complete.
He explained that the new platform will allow asset managers and institutional investors to store cryptocurrencies directly with the bank, within a strictly regulated financial environment.
He also noted that Citibank is working to integrate internal technology solutions with external strategic partnerships to ensure a flexible and secure system capable of meeting the needs of institutional clients at all levels.
He emphasized that the goal is to establish new banking standards in the field of crypto assets, in line with the global digital transformation of the financial sector.
Analysts believe this move represents a significant development in the adoption of blockchain and cryptocurrency technologies by major global banks, and confirms their efforts to capitalize on the growing demand for digital services without compromising security and regulatory compliance requirements.
