NEW YORK, October 13, 2025 – Citigroup (C.N) aims to launch cryptocurrency custody services by 2026, joining Wall Street’s accelerating push into digital assets as institutional demand grows 1. The move positions Citi to compete with rivals like State Street, which also plans crypto custody services next year 9.
- Citi targets 2026 launch for crypto custody services
- Bank exploring stablecoin payments and asset custody
- State Street planning similar services for 2026
Market Context and Competition
Citi’s crypto custody plans come as major banks increasingly embrace digital assets amid rising institutional interest. State Street has announced similar plans to launch crypto custody services in 2026, according to industry reports 9.
The bank has been building its digital assets infrastructure through its enterprise division. Citi’s head of enterprise digital assets, Artem Korenyuk, leads the bank’s approach to cryptocurrency services, from stablecoin payments to custody solutions 6.
Service Expansion Plans
Beyond custody services, Citi is exploring broader cryptocurrency offerings including stablecoin custody and payment services. The bank confirmed in August that it was considering providing stablecoin custody and other crypto-related services 8.
Institutional investors are increasingly interested in digital assets, including cryptocurrencies, stablecoins, NFTs, and security tokens, according to Citi’s internal analysis 7. This growing demand is driving the bank’s strategic expansion into crypto services.
Industry Outlook
Wall Street’s embrace of digital assets has accelerated as Bitcoin’s price climbed and regulatory clarity improved. After the initial “Wild West” period of cryptocurrency, major financial institutions now view blockchain technology as permanently established in the financial sector 3.
Citi believes blockchain technology is “here to stay” on Wall Street, reflecting a broader industry shift toward accepting digital assets as legitimate investment vehicles 3. The bank’s digital assets division focuses on enhancing products and services including digital money, trade, securities, custody, asset servicing and collateral mobility 5.
Strategic Positioning
The 2026 timeline allows Citi to develop comprehensive custody infrastructure while regulatory frameworks continue evolving. The bank’s methodical approach contrasts with some competitors who moved earlier into cryptocurrency services.
Citi’s entry into crypto custody represents a significant expansion of its digital assets strategy, building on existing blockchain initiatives. The bank aims to serve institutional clients seeking secure storage and management of digital assets.
Not investment advice. For informational purposes only.
References
1CNBC (October 13, 2025). “Citi aims to launch crypto custody in 2026, exploring stablecoin”. CNBC. Retrieved October 13, 2025.
2CNBC LinkedIn (October 13, 2025). “Citi targets 2026 launch for crypto custody service as Wall Street”. LinkedIn. Retrieved October 13, 2025.
3Fortune (October 9, 2025). “Why Citi believes blockchain is ‘here to stay’ on Wall Street”. Fortune. Retrieved October 13, 2025.
4YouTube (August 15, 2025). “Citibank considers expanding crypto services to asset custody, stablecoins: CNBC Crypto World”. YouTube. Retrieved October 13, 2025.
5Citigroup. “Citi Digital Assets”. Citigroup. Retrieved October 13, 2025.
6Yahoo Finance (October 9, 2025). “Why Citi believes blockchain is ‘here to stay’ on Wall Street”. Yahoo Finance. Retrieved October 13, 2025.
7Citibank. “FUTURE OF CUSTODY CONTINUED”. Citi.com. Retrieved October 13, 2025.
8Reuters (August 14, 2025). “Citigroup considers custody and payment services for stablecoins”. Reuters. Retrieved October 13, 2025.
9Ledger Insights (February 17, 2025). “State Street to launch crypto custody in 2026. Citi also leans in”. Ledger Insights. Retrieved October 13, 2025.