Tech
Citigroup’s Blockchain Bet Explores Tokenization of Private Funds
Citigroup Inc. ran a simulation showing how a private equity fund can be tokenized on a blockchain network, potentially paving the way for greater adoption of distributed ledger technology on Wall Street.
The bank worked with Wellington Management AND Tree of wisdom to carry out its “proof of concept,” according to a statement on Wednesday. The project demonstrated that it is possible to issue and hold tokenized versions of private equity funds on behalf of clients in a controlled environment, while remaining compatible with existing banking systems, Citi said.