Citi is joining forces with SIX Digital Exchange (SDX) to launch a groundbreaking platform that will grant institutional and eligible investors direct access to tokenized shares of late-stage private companies.
Announced at the Point Zero Forum in Switzerland, the collaboration aims to modernize private market access and enhance capital liquidity for issuers by leveraging blockchain technology.
Set to go live in the third quarter of 2025, the initiative will see Citi act as both custodian and tokenization agent, utilizing SDX’s regulated blockchain-based infrastructure. Through SDX’s digital Central Securities Depository (CSD), Citi will handle the tokenization, settlement, and safekeeping of equity from high-growth, venture-backed firms—dramatically improving global access to private market assets.
In addition to enhancing investor access, the platform offers a scalable and compliant framework for issuers to manage liquidity for early stakeholders and maintain tighter control over their cap tables. By addressing long-standing issues in the private market, such as limited accessibility and outdated, paper-driven processes, the collaboration introduces a more efficient and transparent alternative.
SDX Head David Newns underscored the pioneering nature of the project, noting its use of regulated blockchain infrastructure to facilitate streamlined, cross-border share distribution. He emphasized that Citi’s involvement brings institutional strength and credibility, reinforcing the project’s global ambitions.
Echoing this sentiment, Citi executives highlighted the strategic significance of the partnership. Marni McManus, Citi’s Country Officer and Head of Banking for Switzerland, Monaco, and Liechtenstein, cited Switzerland’s forward-thinking regulatory landscape as instrumental in enabling this type of financial innovation. Furthermore, Ryan Marsh, Citi’s Head of Innovation and Strategic Partnerships, explained that the move aligns with Citi’s broader strategy to meet rising client demand for tokenized asset servicing as digital finance matures.
Meanwhile, in a related development, a recent Citigroup report suggests that if the United States finalizes a stablecoin regulatory framework, it could unlock over $1 trillion in new demand for U.S. Treasuries. This shift may position stablecoin issuers as some of the largest holders of government debt by the end of the decade—further intertwining the future of digital finance with traditional capital markets.
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