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State Avenue and Citi are considering the establishment of cryptocurrency custodial services in 2026, driven by increasing consumer interest in digital assets.
As two of the leading traditional finance custodians, State Avenue and Citi intend to launch services for the storage and management of digital assets in 2026, according to Ledger Insights, referencing The Information.
State Avenue holds the position of the second-largest custodian globally, managing $46.6 trillion in assets under management (AUM). Citi is ranked fourth, overseeing $25 trillion in assets. Both organizations are among the largest financial entities worldwide.
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The report indicates that although both firms had previously investigated the crypto sector, their efforts were hindered by the SAB 121 accounting regulation, which was rescinded in late January 2025.
Their renewed focus on digital assets is a response to increasing consumer demand. A survey conducted by State Avenue in July 2024 among 300 institutional investors from various regions showed significant interest in services related to digital assets.
In August 2024, State Avenue announced a collaboration with Taurus, incorporating asset custody, tokenization, and node management capabilities into its Digital Asset Solutions platform, tailored for institutional clients.
Citi is also actively investigating digital assets. In 2024, the bank introduced Citi Token Services, a blockchain platform that allows institutional clients to tokenize deposits for cross-border payments, liquidity transfers, and automated trade finance.
The message “TradFi Conglomerates Plan to Expand Crypto Services in 2026” first appeared on CoinsPaid Media.
