Citi wants to make bitcoin bankable as Wall Street builds native crypto infrastructure

Citi is launching institutional bitcoin custody this year as part of a strategy led by Nisha Surendran to "make bitcoin bankable" by integrating it into existing bank-grade custody, reporting, and control frameworks used for traditional assets. Clients will receive a single service model across crypto, securities, and money, allowing bitcoin positions to flow through familiar tax and reporting channels. This move is driven by client demand for exposure to bitcoin within secure banking systems, avoiding the complexities of self-custody wallets. Furthermore, Citi aims to enable cross-margining of crypto and traditional assets within a single master custody account. Concurrently, Morgan Stanley is also deepening its crypto involvement, filing for various crypto ETFs, exploring wallet technology, rolling out spot crypto trading on E*TRADE, and evaluating lending opportunities. Both institutions are building internal infrastructure to support a 24/7 digital asset market, mirroring trends seen across Wall Street, including the NYSE and Nasdaq developing round-the-clock trading venues for tokenized assets.

(Source：CoinDesk)