Citigroup Introduces Blockchain Platform for Tokenized Private Company Shares
- Citigroup is launching a blockchain platform to trade tokenized shares of private companies, targeting wealthy and institutional clients.
- The service will initially be available to international investors, with plans to extend access to U.S. clients.
- The project is supported by Swiss company SIX, which provides the necessary infrastructure.
- Authorized tokenized depository receipts will offer a clearer alternative to Special Purpose Vehicles (SPVs) used for investing in private firms.
This initiative reflects a growing trend towards decentralized finance solutions that facilitate access to pre-IPO investments, as interest in companies like SpaceX and OpenAI rises.
Citigroup’s blockchain platform aims to simplify the management of shares in private companies, allowing investors to handle them similarly to public stocks like Apple.(Source)
