1 month ago
13
Key Takeaways
- The bank plans to custody BTC alongside traditional securities.
- The rollout date, markets and eligible client types are still undisclosed.
- Fees, key-control arrangements and any subcustodian have not been named.
- Citi’s existing custody clients are the natural audience for the service.
Citi wants to keep Bitcoin inside the custody relationship
For the institutions Citi wants to reach, Bitcoin is another position that needs approvals, records and safeguards. It often sits with a different provider from the rest of a portfolio.
That split can mean separate onboarding, separate reporting and extra controls for a relatively small allocation. A fund may keep its bonds, equities and funds with a global custodian, then create another relationship solely for Bitcoin.
Citi is aiming at clients already using its securities-custody services. If a client can add Bitcoin through the same bank, it may avoid bringing in another provider and building a new process around it. The practical benefit depends on the terms Citi eventual...
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