Citigroup (NYSE:C) is launching a blockchain-based venture letting wealthy and institutional clients trade private company shares alongside public stocks, as Wall Street races to broaden access to pre-IPO names like SpaceX and Anthropic.
Tokenized Depositary Receipts Put Private Shares On The Same Rail As Public Stocks
The venture works through tokenized depositary receipts, securities that let investors buy stakes in private companies and hold them within the same account as public equities, The Wall Street Journal reported on Thursday.
Citi issues and custodies the securities on a blockchain operated by Switzerland-based SIX, with plans to extend to other networks.
“This lets clients put private-company shares essentially right next to their Apple stock,” said Artem Korenyuk, Citi’s global lead for digital assets.
