Citibank and JPMorgan are expanding their crypto strategies, with Citi planning token custody and JPMorgan preparing trading services amid renewed Wall Street interest.
Posted October 14, 2025 at 10:03 am EST.
Wall Street banking giants Citibank and JPMorgan are exploring new ways to offer their clients crypto exposure.
Citibank plans to launch crypto asset custody services in 2026, Citi’s global head of partnerships and innovation Biswarup Chatterjee told CNBC that the upcoming custody service would involve Citi holding native crypto tokens.
The new service was reportedly in the works for the last two to three years, with Citi exploring an in-house developed technology solution for custody as well as potential partnerships with third-parties.
JPMorgan is also making moves in the digital asset space, although the firm is ruling out offering crypto custody directly
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JPMorgan’s global head of markets and digital assets, Scott Lucas, told CNBC in a separate interview that the firm plans to roll out crypto trading services.
These developments come amid heightened institutional interest in crypto, which has seen the heads of major banks reassess their positions on crypto.
BlackRock CEO Larry Fink walked back his 2017 comments on Bitcoin being an “index of money laundering” in a Sunday CBS interview.
“But you know, the markets teach you, you have to always relook at your assumptions. There is a role for crypto in the same way there is a role for gold, that is, it’s an alternative,” said Fink.
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