Citigroup launches blockchain platform for tokenized shares

Citigroup has launched a blockchain-based platform to offer wealthy and institutional clients exposure to shares of late-stage private companies, a significant step by a major global bank into the tokenization of real-world assets. The initiative, announced on Thursday, June 11, 2026, initially restricts access to foreign investors, with plans to expand to U.S. clients later pending regulatory approval.

The product uses what the bank calls Digital Depositary Receipts (DDRs). These are tokenized securities issued and held by Citi, representing economic exposure to underlying private company shares rather than direct ownership. Citi also acts as custodian for the assets, providing a regulated structure within the traditional banking system. The platform is built on infrastructure from SIX Digital Exchange (SDX), the digital asset arm of Switzerland's SIX Group, utilizing a permissioned blockchain.

The first publicized transaction involved Kaleido, an institutional tokenization platform. According to documentation, the Kaleido DDRs are offered only through offshore transactions to non-U.S. persons and are not registered under U.S. securities law. Holders must be accredited...