Citigroup Reviews Partnership With Metaco, in Talks With Other Crypto Custodians: Bloomberg

Citigroup has started discussions with other crypto custody partners, according to the report.

AccessTimeIconJun 30, 2023 at 12:22 p.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

Banking giant Citigroup (C) is reviewing its partnership with Metaco a month after Ripple Labs announced that it has agreed to acquire the crypto custody firm for $250 million, according to a Bloomberg report, citing people familiar with the matter.

Citigroup has now started talks with several other custody providers, the report added.

Ripple announced the acquisition of Metaco in May. The deal announcement came on the back of Ripple's ongoing legal tussle with the U.S. Securities and Exchange Commission (SEC), which is estimated to cost the blockchain firm around $200 million.

Citigroup initially selected Metaco as its custody partner in June last year as it looked to expand into tokenized securities and other blockchain-related products.

Neither Citigroup or Metaco immediately responded to CoinDesk's request for comment.

Edited by Parikshit Mishra.


Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is an award-winning media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. In November 2023, CoinDesk was acquired by Bullish group, owner of Bullish, a regulated, institutional digital assets exchange. Bullish group is majority owned by; both groups have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary, and an editorial committee, chaired by a former editor-in-chief of The Wall Street Journal, is being formed to support journalistic integrity.

Oliver Knight

Oliver Knight is a CoinDesk reporter based between London and Lisbon. He does not own any crypto.

Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to to register and buy your pass now.

Read more about