– Citi and SDX (a SIX Company) announced a collaboration focused on solving challenges in traditional private markets for global issuers and investors.
– Citi will tokenize, settle, and safeguard assets on SDX’s digital Central Securities Depository (CSD) platform.
– Citi will bring late-stage pre-IPO equities to institutional and eligible investors via the SDX platform.
– The solution is expected to go live in Q3 2025 and will improve access to high-growth, venture-backed private company shares.
– For issuers, it offers a compliant, simplified model to manage liquidity for early investors and employees, while maintaining cap table control.
– The collaboration combines Citi’s securities services and private market expertise with SDX’s regulated blockchain infrastructure.
– David Newns, Head of SDX, emphasized that this project will enable efficient share distribution in mature international private firms using regulated blockchain technology.
– Marni McManus, Citi Country Officer & Head of Banking for Switzerland, Monaco & Liechtenstein, highlighted Switzerland’s regulatory advantages and the project’s potential to digitize a largely manual private markets process.
– Ryan Marsh, Head of Innovation & Strategic Partnerships, Investor Services and Issuer Services at Citi, noted Citi’s role as a digital custodian and tokenization agent, aligning with client demand for digital asset servicing and innovation.
– The initiative supports the Swiss digital asset ecosystem and strengthens connections with global markets.
– Sygnum Bank and SBI Digital Markets will help distribute Citi’s pre-IPO equities to clients in Europe and Asia, respectively.
