Citi posts London digital asset director role in crypto custody push

Tokenization lets traditional instruments such as bonds and equities be represented on a blockchain, which can speed settlement and improve capital efficiency. Digital collateral management extends that by letting institutions pledge tokenized assets as collateral in real time, bypassing the slower manual processes common in today's markets.

London gives Citi proximity to European institutional clients and a UK regulatory environment that has been actively courting crypto business. The UK has positioned itself as crypto-friendly in recent years, and the city remains a major hub for institutional finance.

Citi's 2021 start gives it a longer track record in digital asset hiring than some peers, but the jump from team-building to product launch is where many institutional crypto initiatives have stalled. Whether this director hire results in products reaching clients will test Citi's commitment to its roadmap.

The broader context for the hire is competition among large banks for institutional crypto mandates. Rivals have also been staffing up in London as demand for custody and tokenization services grows. Citi's decision to embed the role inside its Investor Division, rather than spin up a separate unit, suggests the bank sees digital assets as an extension of its existing institutional business, not a new one.

The bank has not announced a launch date for its custody product. The job posting does not specify a start date for the role either.