Citi Launches $75 Billion Crypto Platform to Tokenize Private Company Shares
C•Citi is launching a crypto platform to tokenize late-stage private company shares for institutional investors, targeting a $75 billion pre-IPO equity market with SDX using R3 Corda. The bank will act as custodian and tokenization agent, issuing tokenized depositary receipts with initial non-U.S. access via Sygnum Bank and SBI Digital Markets.
1. Platform Launch and Partnership
Citi has formally unveiled its new crypto platform for tokenizing shares of late-stage private companies, developed in partnership with SDX, the digital asset arm of SIX Swiss Exchange. The infrastructure operates on R3’s Corda permissioned distributed ledger, ensuring institutional-grade performance and regulatory compliance.
2. Tokenization Mechanics and Custody
Under the arrangement, Citi serves as both custodian and tokenization agent, issuing authorized tokenized depositary receipts that represent underlying private equity holdings. These digital receipts are held through regulated intermediaries, enabling near-instant settlement while preserving traditional custody safeguards.
3. Market Opportunity and Access Phases
The platform targets a $75 billion late-stage pre-IPO equity market left underserved by traditional secondary routes as companies delay public listings. Initial access is limited to non-U.S. institutional investors via Sygnum Bank in Switzerland and SBI Digital Markets in Singapore, with U.S. investor entry slated for a later phase.
