Citi exec plans institutional Bitcoin custody service by year-end

Nisha Surendran, Citi's head of crypto custody product, announced plans to launch a Bitcoin custody service for institutional investors by the end of this year, CoinDesk reported. Speaking at the World Strategic Forum, Surendran stated that the initiative is part of a broader effort to integrate Bitcoin into the banking system. The plan will begin with the development of institutional-grade key management and wallet infrastructure. However, she explained that the larger objective is to allow clients to manage Bitcoin within the same systems they use for traditional assets, ultimately providing a single service model across crypto, securities, and finance. Surendran added that a customer survey revealed many clients do not wish to manage their own wallets, keys, or single-use addresses, preferring instead to invest in Bitcoin through a familiar banking framework.