Group 1: Citigroup's Crypto Custody Services - Citigroup plans to launch crypto custody services in 2026, after a development period of two to three years [1] - The bank is exploring both in-house technology solutions and potential third-party partnerships for its custody services [1][2] - The upcoming service will involve Citi holding native cryptocurrencies on behalf of clients, with a mix of in-house and third-party solutions [2] Group 2: Competitive Landscape - Citigroup's custody plans contrast with JPMorgan's current stance, which allows clients to buy cryptocurrencies but does not hold custody of the assets [3] - JPMorgan has expressed interest in changing its custody approach next year, indicating a competitive shift in the market [3] Group 3: Broader Digital Asset Ambitions - CEO Jane Fraser confirmed that Citigroup is exploring the issuance of a Citi stablecoin and developing tokenized deposit services for corporate clients [4] - The bank already offers blockchain-based dollar transfers between major global offices, enhancing its digital asset capabilities [4] Group 4: Consortium for G7 Stablecoin - A consortium of nine global banking giants, including Citigroup, is planning to develop a jointly backed stablecoin focused on G7 currencies [5] - The consortium aims to issue reserve-backed digital payment assets on public blockchains, pegged one-to-one against traditional fiat currency [5] Group 5: Regulatory Engagement - The coalition of banks is already in contact with regulators across relevant markets regarding the stablecoin initiative [6] - Earlier discussions among major banks, including Citigroup, about the shared stablecoin venture have now progressed beyond conceptual stages [6]

Institutions were plotting and planning while many were gambling.Watcher.Guru (@WatcherGuru):JUST IN: $1.7 trillion Citibank to launch crypto custody services in 2026. ...

Core Insights - Citi plans to offer crypto custody services in 2026, allowing the bank to hold digital assets like bitcoin and ether for clients, marking a significant move into the digital asset space [1] - The custody solution has been in development for two to three years, with hopes to launch a credible offering for asset managers and other clients in the coming quarters [2] - Citi is pursuing a hybrid approach for custody tools, developing some in-house while exploring partnerships for other solutions, indicating flexibility in their strategy [3] Industry Context - The custody plan aims to provide institutional clients with a regulated method to store crypto, which is seen as essential for traditional investors looking to enter the sector [2] - Citi's custody service would join a growing portfolio of digital asset initiatives, including potential stablecoin issuance and tokenized deposits, reflecting the bank's commitment to innovation in the financial sector [3] - Recent investments, such as Citi Ventures' investment in BVNK, a stablecoin payments startup, highlight the bank's active role in the evolving landscape of digital finance [4]

BREAKING: 🇺🇸 $2.3 Trillion Citibank will launch crypto custody services in 2026. https://t.co/DLF4JpEA8g ...

Core Insights - Citibank is planning to launch crypto custody services in the coming year, aiming to provide a credible solution for asset managers and clients [1] - The regulatory landscape for cryptocurrencies is evolving, particularly with the introduction of the GENIUS Act, which has encouraged banks like Citi to engage more with crypto [1] - Other banks, such as U.S. Bank and PNC Bank, are also entering the crypto custody space, while JPMorgan Chase has opted not to offer such services [3] Group 1: Crypto Custody Services - Citi is looking to offer custody services for digital assets, similar to traditional banking services [2] - U.S. Bank has recently resumed its custody services for crypto assets, while PNC Bank is partnering with Coinbase for custody and trading [3] Group 2: Stablecoins - Citi is exploring the launch of its own stablecoins and has invested in BVNK, a platform for stablecoin infrastructure [4] - The interest in stablecoins is growing, particularly for settling on-chain and crypto asset transactions [5]