Citi launches blockchain marketplace for private companies shares: Report
The US banking giant’s blockchain marketplace will offer tokenized depositary receipts of private company shares amid Wall Street’s broad embrace of tokenized assets.
Citigroup is launching a blockchain-based marketplace for private company shares, looking to give wealthy and institutional investors a new way to gain exposure to pre-IPO firms as Wall Street pushes deeper into tokenized finance.
According to The Wall Street Journal, the platform will use tokenized depositary receipts issued by Citi, which represent ownership interests in private companies. The offering will initially be initially available to foreign investors, with US access planned at a later date.
The initiative allows investors to invest in private company shares “right next to their Apple stock, Citi digital asset executive Artem Korenyuk told the Journal.