Citi launches blockchain marketplace for private company shares: Report
Citi is building a blockchain marketplace for private company shares using tokenized depositary receipts. The platform will start with foreign investors, with US access planned later.
Intelligence analysis by GPT-5.4 Mini
Citi is entering tokenized private-market trading with a blockchain-based venue for pre-IPO shares. The bank says tokenized depositary receipts could offer a clearer alternative to SPVs, while its infrastructure partner SIX Digital Exchange runs the blockchain rails.
Citi is making a new online marketplace where rich investors can buy a special digital ticket that stands for a piece of a private company, like getting an early pass before a store opens to everyone.
Analysis
What Citi is launching
Citigroup is reportedly preparing a blockchain-based marketplace for private company shares. The platform will use tokenized depositary receipts issued by Citi, which are designed to represent ownership interests in private companies. According to the report, the first users will be foreign investors, with access for US investors planned later.
Why the structure matters
Citi’s digital asset executive Artem Korenyuk told the Journal that the idea is to let investors put private-company exposure “right next to their Apple stock,” highlighting the bank’s pitch that tokenized assets can sit in the same investing flow as public equities. Citi also argues that this structure may be more transparent than special-purpose vehicles, which are often used to gain access to private companies but can be opaque.
The broader trend
The move fits a wider shift in Wall Street toward tokenization. More banks and fintech firms are testing blockchain rails for traditional assets, especially as interest in private-market investing grows. The article points to rising demand for pre-IPO exposure and notes that large private companies are staying private longer, which has increased investor appetite for this market.
Infrastructure and adoption
The blockchain infrastructure for the marketplace will be operated by SIX Digital Exchange, a subsidiary of Switzerland’s stock exchange operator, SIX Group. Citi said it is already talking with several large private companies about making their shares available on the platform. That suggests the project is still early, but it already has institutional partners and potential issuers in view.
Key points
- Citi is launching a blockchain marketplace for private company shares using tokenized depositary receipts.
- The platform will initially be available to foreign investors, with US access planned later.
- Citi says the structure could be a more transparent alternative to SPVs used for private-market access.
- SIX Digital Exchange will operate the blockchain infrastructure behind the venture.
- Citi says it is already speaking with several large private companies about joining the platform.
If the platform gains traction, it could make private-company investing easier to access and easier to understand than older structures like SPVs. The use of tokenized depositary receipts may also help banks bring more traditional assets onto blockchain systems in a way institutions can accept.
The rollout is still limited, since it starts with foreign investors and US access comes later. The offering also depends on whether investors trust tokenized receipts as a useful stand-in for direct ownership, and whether private companies agree to list their shares on the platform.
