As part of the launch of its new Custody+ platform, Citi Investor Services says it plans to support cryptocurrency custody later this year, starting with Bitcoin. Clients will have an integrated experience where they can access both crypto and traditional custody. Citi is one of the world’s largest custodians, holding assets under custody and administration of $34.5 trillion at the end of June.

When Citi launches its digital asset custody it will become the largest US bank (by assets) to do so, although BNY has significantly more assets under custody. Among the top ten US banks, so far only BNY and US Bank are live with crypto custody.

One of the reasons was SAB 121, an SEC…