BTC $78,903.78 +0.11%
ETH $2,496.82 +1.67%
BNB $704.37 +1.29%
XRP $1.41 -1.99%
SOL $101.61 +4.78%
TRX $0.3356 -0.16%
DOGE $0.0871 +0.80%
ADA $0.2111 +0.22%
BCH $268.70 +0.10%
LINK $11.56 +1.52%
HYPE $81.88 +0.75%
AAVE $126.11 -0.57%
SUI $0.7540 -1.08%
XLM $0.1841 +0.16%
ZEC $797.89 +2.06%
BTC $78,903.78 +0.11%
ETH $2,496.82 +1.67%
BNB $704.37 +1.29%
XRP $1.41 -1.99%
SOL $101.61 +4.78%
TRX $0.3356 -0.16%
DOGE $0.0871 +0.80%
ADA $0.2111 +0.22%
BCH $268.70 +0.10%
LINK $11.56 +1.52%
HYPE $81.88 +0.75%
AAVE $126.11 -0.57%
SUI $0.7540 -1.08%
XLM $0.1841 +0.16%
ZEC $797.89 +2.06%

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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.

The Hyperliquid USDC reserve income sharing mechanism will launch on August 26, with an expected annual contribution of $200 million to buy back HYPE

The AQAv2 stablecoin model protocol of Hyperliquid has previously received support from 19 out of 26 validators, and the relevant mechanism is expected to officially start accruing yields on August 26. Meanwhile, Circle has transferred approximately $4.4 billion USDC to Coinbase via the AQAv2 mechanism on HyperEVM, setting a record for the largest single USDC transfer on HyperEVM.If everything proceeds as planned, the yields generated by AQAv2 will begin accruing on August 26, with the first payment expected to enter the Assistance Fund on October 3. AQAv2 (Aligned Quote Asset v2) is a stablecoin mechanism announced by Hyperliquid in May this year, allowing stablecoins, including USDC, which are not exclusively issued by Hyperliquid, to qualify as "Aligned." According to public information, most of the stablecoin yields from AQAv2 will be returned to the Hyperliquid ecosystem, with 90% of the yields allocated to the relevant mechanism, and subsequently, 100% used for the buyback and destruction of HYPE tokens.Coinbase has been designated as the fund deployment party, while Circle is responsible for technical deployment, and both parties will also stake HYPE to participate in the mechanism. The mechanism previously required stablecoins to be exclusive assets of Hyperliquid, but AQAv2 has removed this restriction and will focus on the HIP-4 standardized market and the perpetual contract market operated by validators. According to relevant public disclosures, AQAv2 is expected to generate up to approximately $200 million in revenue and further enhance token value capture through the HYPE buyback and destruction mechanism.
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