BTC $78,688.03 -1.29%
ETH $2,478.80 -0.72%
BNB $745.83 -0.10%
XRP $1.39 -1.16%
SOL $103.01 -1.96%
TRX $0.3353 -0.37%
DOGE $0.0896 -0.05%
ADA $0.2174 -0.70%
BCH $257.64 +0.46%
LINK $12.65 -3.27%
HYPE $84.26 -2.33%
AAVE $130.99 -2.20%
SUI $0.8129 +1.99%
XLM $0.1900 -0.49%
ZEC $1,123.23 -5.85%
BTC $78,688.03 -1.29%
ETH $2,478.80 -0.72%
BNB $745.83 -0.10%
XRP $1.39 -1.16%
SOL $103.01 -1.96%
TRX $0.3353 -0.37%
DOGE $0.0896 -0.05%
ADA $0.2174 -0.70%
BCH $257.64 +0.46%
LINK $12.65 -3.27%
HYPE $84.26 -2.33%
AAVE $130.99 -2.20%
SUI $0.8129 +1.99%
XLM $0.1900 -0.49%
ZEC $1,123.23 -5.85%

client

All
Article
Flash

Citi: Plans to provide Bitcoin custody services for institutional clients within the year, incorporating into the Custody+ platform

Citi plans to offer Bitcoin custody services for institutional clients through its Custody+ platform later this year. This service will integrate Bitcoin with traditional assets such as stocks and bonds within the same custody framework, allowing clients to access custody, settlement, foreign exchange, cash, and liquidity services through a single system. Bitcoin will be the first digital asset supported by Citi's new custody service, and Citi has not yet announced a specific launch date or the list of initial clients.Custody+ is launched by Citi Investor Services, and Citi's custody business covers over 100 markets, operating its own custody network in 62 markets. Citi states that its goal is for banks to self-custody native digital assets rather than relying solely on external exchanges or other digital asset companies. The project has been in development for about two to three years, with Citi first disclosing related plans in 2025. Custody+ will provide real-time settlement, foreign exchange services, automated hedging, cash management, and liquidity tools. The Single Event Processing in its custody system currently processes over 80% of event volume in real-time; in the U.S., this system has reduced the processing time for some voluntary corporate actions by up to 92%, with 96% of related events completed within two hours. Chris Cox, head of Citi Investor Services, stated that Citi invests over $2 billion annually in its Services platform.

Cantor Fitzgerald plans to open the Kalshi prediction market to its institutional clients

According to The Wall Street Journal, Cantor Fitzgerald plans to open the Kalshi prediction market to its approximately 3,000 institutional clients, including family offices and hedge funds, allowing them to trade event contracts related to weather, commodities, and corporate performance. Susquehanna International Group will provide quotes and liquidity for the related trades.Cantor will act as a broker, buying and selling large event contracts for clients and may distribute related positions to other investors through private negotiations. Cantor Co-CEO Pascal Bandelier stated that hedge funds have expressed interest in trading event contracts linked to iPhone sales, rather than indirectly betting on volume changes through Apple's stock price; family offices are focused on using contracts related to weather, crop yields, and oil prices for risk hedging.Joe Grubb, Head of Business Development at Susquehanna Predictions, mentioned that AI supply chain risks and computing power prices could also become application scenarios for the prediction market. Institutional clients can also propose new market themes based on their needs, and the relevant companies have discussed the types of contracts they hope to launch with investors.Kalshi has been intensifying its efforts to expand institutional clients in recent months, having completed its first large transaction this year and reached a partnership with Interactive Brokers. Max Crowley, Vice President of Business Development at Kalshi, stated that there is already a demand from institutions for hedging specific event risks.

HSBC requires some existing investment clients in the mainland to submit a source of funds declaration; failure to submit in a timely manner may result in service termination

According to the Daily Economic News, following the requirement to confirm that the source of funds for new account openings comes from legal overseas channels, some banks in Hong Kong have begun to initiate a source of funds declaration process for certain existing mainland investment clients. HSBC Hong Kong has recently started notifying some existing mainland investment clients, requiring them to submit the "Declaration for Opening/Maintaining Accounts" through the HSBC Hong Kong App by September 12 and to update their contact information.The declaration includes confirming that the funds for investment activities come from legal sources outside mainland China, and that the bank may disclose personal information at the request of law enforcement or regulatory agencies. The notice also mentioned that if the declaration is not submitted by August 20, investment-related services may be suspended; if it is still not submitted by September 12, investment-related services may be terminated.An HSBC spokesperson responded that they will follow relevant regulatory requirements when managing investment client relationships, thus inviting relevant mainland Chinese investors to provide self-declarations and confirm that the information provided in their "Know Your Customer" and "Customer Due Diligence" processes is current and valid, which helps to continuously provide uninterrupted services to clients. HSBC emphasized that this latest declaration requirement applies only to investment service clients.
app_icon
ChainCatcher Building the Web3 world with innovations.