Citigroup has launched Digital Depositary Receipts (DDRs), a blockchain-based product enabling wealthy and institutional investors to gain exposure to private company shares. The product adapts traditional depositary receipts for private markets, with securities recorded on SIX's blockchain infrastructure while Citi acts as both issuer and custodian. This launch addresses growing investor demand for private-market access as companies delay IPOs. Citi's move is part of broader tokenization efforts by major banks to bring traditional assets onto digital networks. The bank plans to expand the offering to public blockchains over time, aligning with industry initiatives like shared tokenized deposit networks.

Key facts

• Citi launches Digital Depositary Receipts for private company shares on blockchain.
• Product debuts with a transaction involving tokenization firm Kaleido.
• Citi acts as issuer and custodian; SIX provides blockchain infrastructure.
• Part of broader bank push to tokenize traditional financial assets.
• Citi plans future expansion to public blockchain networks.

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