Citigroup to launch blockchain platform for tokenized shares of private companies

From fxstreet.com

Citigroup is preparing to launch a blockchain-based platform that will allow wealthy and institutional investors to trade tokenized shares of private companies, according to a Thursday report by The Wall Street Journal. The platform will use tokenized depositary receipts, with Citi acting as both issuer and custodian. The bank is reportedly in discussions with several large private companies about participating in the initiative as firms continue to postpone initial public offerings (IPOs). The move reflects growing interest among financial institutions in tokenization and bringing traditionally illiquid markets onto ... (full story)