Citibank, one of the world's largest financial institutions with $1.7 trillion in assets, is set to launch crypto custody services by 2026. This move allows Citibank to securely hold cryptocurrencies like Bitcoin and Ethereum for institutional clients, marking a significant step into the digital asset space.¹ ² ³
Key Highlights
Custody Services: Citibank will offer secure storage for digital assets, blending in-house technology with third-party partnerships.
Implications
Market Confidence*: Big bank involvement could boost credibility and mainstream acceptance of cryptocurrencies.
*Institutional Adoption*: Essential for broader integration of digital assets into traditional finance.
- *Stablecoin Exploration*: Citibank is assessing stablecoin use cases, potentially expanding into regions with underdeveloped banking.
This development underscores Wall Street's growing convergence with the crypto economy, focusing on infrastructure and regulated solutions.
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