Citigroup is launching a blockchain-based platform that allows its wealthy and institutional clients to trade tokenized shares of private companies in a move the bank hopes will be adopted across Wall Street.
The venture is initially open only to foreign investors, the Wall Street Journal reported Thursday. Citigroup said it is in discussions with some of the largest private companies to get involved, though specific names were not disclosed.
Companies are taking longer to go public, and Wall Street has been in a sustained frenzy over the anticipated blockbuster stock-market debuts of SpaceX, Anthropic, and others. The trend has arguably created demand for institutional access to private equity exposure that traditional markets cannot easily satisfy.
A trend Citi has been building toward
The move is a natural extension of Citigroup's multi-year push into tokenization.
