Citigroup Expands Access to Private Markets With Tokenized Depositary Receipts

Citigroup launched Digital Depositary Receipts on private shares, using SIX's blockchain infrastructure. The bank serves as custodian for settlement and safekeeping. The first transaction involved Citi portfolio company Kaleido and investors in Citi's Wealth business. Citi plans to extend the offering across other financial market infrastructures.