#citigroup Tech News.
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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.
Citigroup introduced Digital Depositary Receipts, a blockchain-based product allowing wealthy and institutional investors to gain exposure to private company shares. The securities are issued and held by Citi, recorded on blockchain infrastructure operated by Swiss firm SIX. The bank plans to expand the offering, including to public blockchains.
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