The American banking giant Citigroup is taking a decisive step into the crypto universe. After years of cautious observation, the New York bank is preparing to offer digital asset custody services from 2026. An announcement which comes in a regulatory context that has finally been clarified in the United States.
In brief
- Citigroup will launch its crypto custody services in 2026, after three years of development.
- The bank relies on a mixed approach: internal solutions and partnerships with specialized third parties.
- Citi joins a European consortium to create a euro-regulated stablecoin, planned for mid-2026.
A calculated entry into a growing market
Citigroup finally lifts the veil on its ambitions in crypto. Indeed, Biswarup Chatterjee, global head of partnerships and innovation, confirmed that the bank would launch its cryptocurrency custody services in 2026.
The result of more than two years of discreet development, this initiative combines proprietary technologies and strategic partnerships with specialized service providers. The goal: to allow institutional clients to directly hold native digital assets — bitcoin, Ethereum and others — without relying on external intermediaries.
The strategy adopted by Citi is based on a modular and flexible architecture, as explained by Biswarup Chatterjee.
We may have certain solutions designed and built entirely in-house that target certain assets and segments of our customers, while we may use a […] third-party, lightweight and agile solution for other types of assets.
This hybrid approach allows the bank to maintain control of its critical operations while quickly adjusting to market developments.
The timing of this announcement is not a coincidence. Indeed, the US Federal Reserve has just relaxed its guidelines, removing the requirement for banks to notify regulators before engaging in activities related to digital assets. In the process, the FDIC and the OCC adopted similar measures, removing the last regulatory obstacles.
Result: the doors to crypto are now opening to large financial institutions, and Citigroup intends to be among the first to enter.
A multi-faceted offensive to conquer the crypto ecosystem
Beyond the simple custody of assets, Citigroup deploys a major strategy. At the same time, the bank joined a consortium of nine European institutions, including ING, UniCredit and DekaBank, to develop a regulated stablecoin backed by the euro. The launch is planned for the second half of 2026.
This initiative is also part of a broader vision where stablecoins become cross-border payment tools, particularly in regions where the banking infrastructure remains fragile.
Furthermore, Scott Chronert, US equity strategist at Citi, displays measured optimism about the evolution of cryptos. He believes that bitcoin and Ethereum will continue their upward trend until 2026, offering investors interesting diversification opportunities against the stock markets.
This analysis reflects a change in perception within the institution: cryptos are no longer perceived as marginal assets, but as legitimate components of a balanced portfolio.
The involvement of Citi Ventures, the group's venture capital arm, reinforces this dynamic. The strategic investment in BVNK, a company specializing in stablecoins, demonstrates a desire to explore the entire crypto value chain.
By combining custody services, development of stablecoins and targeted participations in fintech, Citigroup is positioning itself as a key player in the convergence between traditional finance and the digital economy. A patient, methodical and ambitious strategy that could well redefine the place of large banks in the global crypto market.
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