The American bank will launch an infrastructure by year-end to make Bitcoin accessible to institutional clients through traditional channels.
Citi is preparing to launch a dedicated infrastructure for integrating Bitcoin into traditional banking systems. The announcement was made Thursday by Nisha Surendran, head of digital asset custody development at Citi, during the Strategy World conference.
Surendran outlined a three-pronged approach: institutional custody, integration with existing reporting and tax systems, and streamlined client access to digital assets. “By the end of this year, Citi will launch our infrastructure that integrates Bitcoin into traditional finance,” she stated. “We will start with core custody and safekeeping capabilities, institutional key management, and wallet infrastructure.”
The initiative is part of the bank’s broader goal of making Bitcoin “bankable.” Clients will be able to manage their Bitcoin positions alongside traditional assets, without having to handle wallets, private keys, or one-time addresses — Citi will manage these processes through its own infrastructure. The bank will extend to Bitcoin the same reporting channels, tax workflows, and compliance frameworks already in use for traditional assets. Citi currently manages approximately $30 trillion in client assets across securities and money market products.
Morgan Stanley, also at the Strategy World conference, announced plans to expand its digital asset offerings, including the launch of a native crypto custody and trading platform. The bank will initially allow E-Trade clients to buy and sell spot cryptocurrencies through a partnership, while a fully integrated platform is expected within the next year.
