"" Citi Unveils Institutional Digital Asset Custody Platform
Citi Investor Services has launched its Custody+ platform, a collection of near- and real-time custody services for institutional clients. The rollout has given Citi a firm timetable for its digital asset custody business, with the service expected to become operational later this year and initially supporting Bitcoin.
The platform will replace a standard custody model with modular services that clients can adapt to their own operating systems and workflows. Citi's existing custody network serves customers in more than 100 markets, including 62 markets where the bank operates its own infrastructure.
Custody+ Features
Custody+ includes real-time settlement, liquidity management, foreign exchange services, and market data. The platform will also support tax-document processing, cloud sharing, and application programming interfaces, giving institutions access to Citi data for their own analytics and AI systems.
Citi's Digital Asset Strategy
Citi has been developing products that place traditional financial claims on blockchain-based systems. The bank has also been investing heavily in its platform strategy, with spending focused on speed, scale, and availability.
Key Quotes
"Custody+ is a clear example of this investment as we build infrastructure to eliminate latency and drag for institutional investor clients," said Chris Cox, head of Investor Services at Citi.
"Custody+ is the product of a multi-year commitment to building infrastructure that matches the speed of our clients' strategies," said Amit Agarwal, head of Custody at Citi Investor Services.