Citigroup announced plans to introduce a Bitcoin custody service for institutional clients later this year. The service will integrate Bitcoin into the bank's existing custody, reporting, and tax frameworks, allowing clients to manage crypto assets, securities, and cash within a single custodial account. This offering will also support cross-collateralization between digital and traditional assets. Clients will be able to initiate transactions via SWIFT, API, or interface instructions, with Citigroup handling the clearing and settlement processes. The news was reported by CoinDesk.

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