Which Banks Offer Crypto Wallets?
Which banks offer crypto wallets? Strictly speaking, major banks are not offering consumer “wallet apps.” What they offer is crypto asset custody for institutional clients: the bank safeguards the private keys, and clients can hold assets like Bitcoin the same way they hold stocks and bonds. Over the past two years, the number of banks in this space has grown noticeably.
Banks Offering or Planning Crypto Custody
BNY
BNY was one of the first major custodian banks to enter. In October 2022, it launched a digital asset custody platform in the US that lets select institutional clients hold and transfer Bitcoin and Ether.
Citi
According to a March 2026 Decrypt report, Citi announced it would launch institutional Bitcoin custody during 2026, letting clients hold Bitcoin in the same safekeeping accounts they use for equities, bonds, and cash.
State Street
According to Ledger Insights, citing The Information, State Street plans to launch crypto custody in 2026. It set up State Street Digital in 2021 and has since partnered with custody technology firms Copper and Taurus.
Deutsche Bank
According to a July 2025 eMarketer report citing Bloomberg, Deutsche Bank plans to launch digital asset custody in 2026, working with Bitpanda and Taurus on the technology.
Morgan Stanley
In February 2026, Morgan Stanley applied to the US Office of the Comptroller of the Currency (OCC) for a national trust bank charter. The proposed entity plans to offer custody, trading, staking, and stablecoin issuance.
Crypto-Native Banks
Beyond the traditional giants, there are licensed banks built specifically for digital assets, such as AMINA Bank, regulated by Switzerland’s FINMA, which integrates crypto custody directly into its core banking services.
Note that much of the above reflects plans reported in the press. Actual launch dates and service scope should be confirmed through each bank’s official announcements.
Why Are Banks Moving In Now?
The main reason is that a regulatory barrier has been removed. The SEC’s SAB 121 accounting bulletin required banks to record custodied crypto assets as liabilities on their own balance sheets, which kept them out of the business for nearly three years. Since it was rescinded, major custodian banks have accelerated their plans.
However, many banks are not building custody systems from scratch. They partner with specialist key management and wallet technology firms instead. This shows that the core of bank custody is still the infrastructure for key security and transaction authorization.
Safeheron has provided this kind of infrastructure in banking and digital currency. In Hong Kong’s e-HKD pilot, Safeheron supported key security and a controlled recovery mechanism with a solution combining MPC and TEE, and co-authored a white paper with ZA Bank on e-HKD, tokenized deposits, and stablecoins. Read more in Safeheron Supports Hong Kong’s Digital Currency Exploration.
Should Institutions Choose Bank Custody or Self-Custody?
Bank custody offers brand trust and one-stop service, letting institutions manage crypto alongside traditional assets in a single account. It suits asset managers and companies that mainly hold long term and trade infrequently.
But bank custody also means handing private keys and transfer authority to a third party. Fund movements depend on the bank’s processes and business hours, and supported chains and tokens are relatively limited. For exchanges, payment companies, and market makers that need to move funds around the clock, this is often not flexible enough.
These institutions more often choose MPC self-custody: the institution holds its own key shares, sets its own approval rules, and is not limited by a third party’s business hours. Some institutions use both, keeping long-term reserves with a bank custodian and managing operating funds in a self-custody wallet.
Conclusion
Which banks offer crypto wallets? BNY already offers institutional custody, Citi, State Street, and Deutsche Bank are entering around 2026, and Morgan Stanley is applying for a dedicated charter. For institutions that mainly hold long term, bank custody is a reliable option. For those that need to move funds flexibly, self-custody is often a better fit.
Safeheron’s MPC Wallet-as-a-Service gives institutions institutional-grade security while keeping control of their own keys. Comparing bank custody and self-custody? Contact Safeheron’s Sales Team to Book a 1:1 Demo
