Citigroup is building the plumbing to bring Bitcoin directly into the banking world — and it’s moving on a tight timetable.
The Wall Street giant, which manages roughly $2.5 trillion in assets, has told clients and the market it will complete construction of a Bitcoin integration infrastructure by the end of 2024 and roll out institutional Bitcoin services in 2026. According to Bitcoin Magazine, the project is designed to create custody and settlement “rails” that let traditional banking systems interact with Bitcoin operations — effectively making it easier for banks, asset managers and other institutions to hold, move and settle Bitcoin through existing financial networks.
The push is being driven by growing institutional demand and flows into spot Bitcoin ETFs, which industry observers say could open as much as $30 trillion in potential custody business if broader markets adopt crypto holdings at scale. Citi’s initiative, promoted internally under the tagline “Making Bitcoin Bankable,” signals a major bank-level embrace of digital-asset infrastructure, though the firm has not yet disclosed specific product features, partners, or the precise scope of services it will offer.
If Citi meets its timeline, the project will accelerate a broader trend among large financial institutions building crypto custody, settlement and integration tools to accommodate institutional clients. For now, market watchers will be watching for more detail on how Citi plans to connect legacy banking systems to blockchain-based assets and which safeguards — custody, compliance and settlement mechanisms — it will deploy.
Read more AI-generated news on: undefined/news
