Citibank plans to launch its crypto custody service in 2026, after nearly three years of development aimed at providing a market-ready solution. The bank aims to offer secure custody for various cryptocurrencies, serving institutional clients, combining in-house technology with third-party solutions. This initiative aligns with regulatory changes, such as the GENIUS Act, which provides clearer guidance on digital assets and stablecoins.
Citi emphasizes security and reliability, leveraging its regulated status to mitigate network risks and theft compared to private custodians. Alongside JPMorgan and Bank of America, Citi is exploring blockchain solutions, including tokenized deposits and stablecoins, enabling fast, cross-border payments outside traditional banking hours. The bank is also considering stablecoins for areas with limited banking access, promoting trade activity. Investment in infrastructure companies like BVNK demonstrates confidence in the long-term potential of blockchain.
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