Citigroup and SDX, a Digital Asset Platform under SIX Swiss Exchange, Collaborate to Advance Tokenization of Private Equity Market

Global banking giant Citi has announced a collaboration with SIX Digital Exchange (SDX), the digital asset platform under the Swiss stock exchange, to launch a blockchain-based Central Securities Depository (CSD) in the third quarter of 2025. This platform will be used for tokenized late-stage private equity (Pre-IPO) shares, with Citi acting as the custodian and issuing agent for digital assets, while SDX's platform is built on R3's Corda distributed ledger technology.
Initially, the platform will target institutional and qualified investors in Switzerland, Singapore, and other parts of Asia, excluding U.S. investors for the time being. This move aims to enhance liquidity and efficiency in the private market, addressing issues such as manual processes and information opacity in current trading workflows. SDX CEO David Newns stated that the collaboration will enable the efficient distribution of shares in mature international private companies, which is expected to attract strong investor interest. (Cointelegraph)