Citigroup launched a blockchain-based platform for wealthy and institutional clients to trade tokenized shares of private companies. The service initially targets foreign investors using tokenized depositary receipts. Citi acts as both the issuer and custodian of these assets to increase private market liquidity.
Switzerland-based SIX Digital Exchange (SDX) operates the platform's blockchain infrastructure. The inaugural transaction involved an investment in digital asset firm Kaleido.
Citi expects other financial institutions to adopt this model to create a broader private equity trading network. The platform allows clients to hold digital assets alongside traditional securities like stocks.