Citigroup will launch a bitcoin custody service for institutional clients this year, CoinDesk reported on Feb. 27.
The move is part of a strategy to integrate digital assets into existing financial infrastructure.
Nisha Surendran (니샤 수렌드란), head of product build for Citi digital assets custody, disclosed the plan in a speech at the World Strategic Forum on Feb. 26. "The goal is to make bitcoin a bank asset," she said. The starting point is institutional-grade key management and wallet infrastructure. Surendran said Citi ultimately aims to bring bitcoin into custody, reporting and control systems that clients apply to existing assets.
Citi plans to provide cryptocurrencies, securities and cash through a single service model. Clients can instruct transactions through SWIFT, application programming interfaces (API) and a user interface. "From the client's perspective, all they need to do is instruct," Surendran said. "We handle the complex clearing and settlement process and report the results."
Chi-gyu Hwang
delight@d-today.co.kr