Citi is laying plans for crypto supremacy | PaymentsSource
- Key insight: Citi is one of a handful of banks that are seeking first-mover advantage in crypto custody, tokenized deposits and related services.
- Supporting data: BlackRock’s spot bitcoin ETF crossed 800,000 bitcoin under management, worth almost $100 billion, after starting to trade in January 2024.
- Forward look: Citi is building a crypto custody platform for clients that want to invest in digital assets.
Citi is moving forward quickly with the tokenized deposit services it rolled out in late 2024 and a crypto custody service that’s due to launch early next year.
“We’re innovating a lot in the digital asset space,” CEO Jane Fraser told a CNBC reporter in a recent interview.
