OpenAI · Wall Street · Apple · Cointelegraph
Citi debuts blockchain marketplace for private companies shares: Report
Compiled by KHAO Editorial — aggregated from 1 source. See llms.txt for citation guidance.
◌ Single Source
The US banking giant's blockchain marketplace will offer tokenized depositary receipts of private company shares amid Wall Street's broad embrace of tokenized assets.
Key facts
- Last December, the American Investment Council published a report citing PitchBook data showing that private equity outperformed the S&P 500 index across five-, 10-, 15- and 20-year investment
- At the time, American Investment Council President and CEO Will Dunham argued that private equity's long-term outperformance strengthened the case for expanding retail access through investment
- The frenzy surrounding SpaceX’s IPO underscores the trend, with Bloomberg reporting that retail investors alone have placed more than $70 billion in orders for Friday's offering as of Thursday
- The underlying infrastructure of the venture's blockchain will be operated by SIX Digital Exchange, a subsidiary of Switzerland's stock exchange operator, SIX Group
Summary
Citigroup is launching a blockchain-based marketplace for private company shares, looking to give wealthy and institutional investors a new way to gain exposure to pre-IPO firms as Wall Street pushes deeper into tokenized finance. The platform will use tokenized depositary receipts issued by Citi, which represent ownership interests in private companies. The initiative allows investors to invest in private company shares “right next to their Apple stock, Citi digital asset executive Artem Korenyuk told the Journal. That distinction is notable as interest in pre-IPO investing surges.