Timeline
- 7.5
Citi to Launch Bitcoin Custody for Institutional Clients This Year
Citi announced that it will launch digital asset custody later this year, starting with Bitcoin, through its Custody+ platform. The service will let institutional clients access traditional securities and crypto custody through the same framework. As a global systemically important bank, Citi's entry into Bitcoin custody signals deeper Wall Street involvement in crypto, which could improve market infrastructure and institutional confidence. This may accelerate institutional adoption of digital assets and broaden the investor base. Custody+ is a suite of custody and settlement tools from Citi Investor Services, designed for near-real-time processing; over 80% of Citi's asset-servicing event volume is now processed in real time. Citi Token Services already enables 24/7 transfers of tokenized deposits in select markets, and this expands on plans announced in October.
- 7.5
TradFi Giants Embrace Crypto, Ending 'Long Bitcoin, Short the Bankers' Era
Two financial institutions managing over $1 trillion each approved crypto products this summer, according to Bitwise CEO Hunter Horsley. Banks have shifted from resisting digital assets to enabling their distribution through custody, trading, and tokenization, blurring the line between traditional and decentralized finance. This marks a structural shift in crypto's relationship with traditional finance, as large institutions expand client access to digital assets even during bear markets. The convergence could accelerate institutional adoption, improve market infrastructure, and normalize crypto as part of mainstream finance. The two institutions were not named, and Bitwise did not specify the products or client access timeline. Notable early bank entrants include Swissquote (2017), DBS (2020), BBVA (2021), BNY Mellon (2022), and more recently Standard Chartered, Charles Schwab, SoFi, and Morgan Stanley.