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Crypto custody: US banking giants enter the game
The crypto industry has just received an important institutional backstop. Citi (assets under management: $2.3 trillion) and State Street ($4.7 trillion) are moving their pieces towards digital assets.
This is the play:
Citi: Exploring adding cryptocurrency storage to its service portfolio
State Street: More aggressive, plans to launch its custody service for digital assets in 2026
The interesting fact is that Coinbase emerges as the potential key partner for these institutions. But there is a small detail: both banks need the approval of the Federal Reserve and the NY DFS ( U.S. financial regulators ) to proceed.
For now, BTC is trading at $101,015, with a drop of -5.98%. The entry of these financial giants could change the institutional game, although it all depends on how regulators give the green light to these initiatives.