Overview

• Biswarup Chatterjee told CNBC that Citi has spent two to three years building the service and aims to introduce a credible offering in the next few quarters.
• The planned custody product would let Citi safeguard native cryptocurrencies such as bitcoin and ether for asset managers and other institutional clients.
• Citi Ventures recently invested in stablecoin infrastructure firm BVNK, and the bank is assessing stablecoins for cross-border payments in underbanked markets.
• Rival banks are taking varied paths, with JPMorgan confirming client crypto trading but saying custody is not on the table as others pursue deposit tokens and tokenized cash rails.
• Executives point to clearer U.S. rules, including the GENIUS Act and this year’s ETF approvals, as catalysts for regulated banks to build digital-asset storage and payment infrastructure.