Citi is reportedly preparing to enter the digital asset space with a crypto custody service set to debut in 2026, as traditional financial institutions increasingly explore cryptocurrencies.

According to CNBC on Monday, the bank has been developing the service over the past two to three years. Biswarup Chatterjee, Citi’s global head of partnerships and innovation, said the upcoming offering will allow the bank to hold digital coins and tokens on behalf of its clients.

“We’re hoping that in the next few quarters, we can come to market with a credible custody solution that we can offer to our asset managers and other clients,” Chatterjee told CNBC. Citi did not immediately respond to requests for comment.