On June 11, Citigroup is establishing a method for its clients and institutional clients to trade private company stocks via blockchain, and hopes that other banks on Wall Street will adopt this model. The bank stated that it is in discussions with several large private companies regarding participation. The project operates through depositary receipts—securities that allow investors to purchase shares of foreign companies—all of which have been authorized and tokenized. Citigroup will issue these securities and serve as their custodian.
All Comments