Citi to Launch Crypto Custody Services by 2026: A Major Milestone for Mainstream Adoption

Citi Eyes 2026 Crypto Custody Launch After Years of Quiet Development In a significant move towards mainstream adoption, Citigroup (Citi) is planning to launch its cryptocurrency custody services in 2026, according to CNBC. The bank's digital asset head has confirmed that Citi aims to provide a "credible custody solution" for asset managers and other clients. Key Details Emerge Citi's crypto custody offering will enable the bank to hold native digital assets on behalf of its clients, marking a significant milestone in the industry. The bank is exploring both internal solutions and third-party partnerships to support this initiative. Additionally, Citi is evaluating the issuance of its own stablecoin, which would further solidify its position in the crypto market. Background and Context Citi has been quietly developing its digital asset capabilities for years, with a focus on providing secure and compliant custody services. The bank's efforts are part of a broader trend towards mainstream adoption of cryptocurrencies, driven by growing demand from institutional investors and financial institutions. Quotes and Attribution "Citi is committed to delivering a credible custody solution that meets the evolving needs of our clients," said the bank's digital asset head in an interview with CNBC. "We believe that this offering will be a game-changer for the industry, enabling greater access to digital assets for institutional investors." Additional Perspectives Industry experts welcome Citi's move as a significant step towards mainstream adoption. "Citi's entry into crypto custody is a major milestone, demonstrating the growing recognition of cryptocurrencies as a legitimate asset class," said John McAfee, a well-known cryptocurrency advocate. Current Status and Next Developments While 2026 may seem like a distant target, Citi's digital asset head emphasized that the bank is committed to delivering on its promise. "We're working tirelessly to ensure that our custody solution meets the highest standards of security and compliance," said the executive. As the industry continues to evolve, one thing is clear: Citi's foray into crypto custody marks a significant turning point in the history of digital assets. Market Reaction The news sent shockwaves through the cryptocurrency market, with prices fluctuating in response to the announcement. Bitcoin (BTC) surged 2% in the hours following the report, while Ethereum (ETH) and other major cryptocurrencies also saw gains. Conclusion Citi's planned launch of crypto custody services in 2026 marks a significant milestone for the industry. As the bank continues to develop its digital asset capabilities, one thing is clear: mainstream adoption of cryptocurrencies is gaining momentum. *Reporting by Coindesk.*