Citigroup introduces tokenized Digital Depositary Receipts to provide institutional investors access to private company shares via blockchain.
Citigroup has unveiled Digital Depositary Receipts, a blockchain-based product enabling wealthy and institutional investors to gain exposure to private company equity. The bank acts as both issuer and custodian, recording transactions on infrastructure operated by Swiss firm SIX.
The move adapts traditional depositary receipts for private markets, addressing growing demand as companies delay public listings. Citi plans to expand the offering, including potential integration with public blockchains, as part of a broader push to tokenize financial assets.
The product reflects efforts by major banks to modernize asset trading, leveraging blockchain technology to enhance accessibility and efficiency in private equity investments.