“Citi Will Act As A Custodian and Issuer Agent for Tokenized Assets on SDX’s Digital Central Securities Depository (CSD) Platform.”, – WRITE: www.coindesk.com
CITI WILL ACT AS A CUSTDIAN AND Issuer Agent for Tokenized Versions of Late Stage, Pre-Pio Equities On SDX’s Regulated Blockchain-Based Central Secites Depository (CSD) PLATORY Tuesday.
Citi Said the Platform, WHICH is expert to go Live in the Third Quarter, Will Exclude US Investors, But Is of OtherWise Global with An Initial Focus on Switzerland, Singapore And Other Part.
Private Shares in High-Growth, Venture-Backed Companies Are A Large and Appealing Subset of An Alternative Asset Class That’s Valught in The Trillions of Dollars.
FIRMS WITH VALUATIONS OF A Billion Dollars and More Are Remaining Private for Longer As Market Conditions Dictate Delays in ipos for Many. That means the companies are look to Secondary Markets to Help Investors and Employees Get Liquidity. But There’s An Access Problem, and The Transactions of Themselves Are Manual and Cumbersome.
“The MOST NOTable Characteristic of Private Markets is that there is no infrastructure, at least noting Scalable,“ Nisha Surendran, Digital Asset Emerging Emerging. interview.
INVESTORS ARE TYPICALLY Faced with A Daunting Set of Pdfs and Paper Documents to Get Through, and The Settlement of a Transaction Can Take from FROM FROM TO AIGHT WEEKS – A PROCESS to exit the position, Surendran explained.
“THESE INVESTMENTS ALSO HAMPERED BY the FACET THEY FLOW INTO INVESTORS ‘WEALTH STATEMENTS LIKE Other Public Securities do. Platforms, ”she said.
While Recent Years Have Seen Many Traditional Financial Institutions Looking at the Tokenization of Real-World Assets, The Very Early Days Markets, But with Little Actually Delivered.
SDX CEO DAVID NEWNS SAID MANY HOPEFUL Web3 Projects, WHICH SAW BLOCKCHAIN RAILS as a Way to Streamline Outdated Processes and Enable Easy Access and CAMESSASTSTSTRIBUTATION MARKETS Hurdles.
“There’s a very mattle-Securities regulatory environment in switzerland whore we’ve be’ve be doing this Now Now Since 2021,“ Newns Said in An Interview. “That’s isn’t the Case Elsewhere. The Technology May Have Like It Couldress All The Challenges, But Problems AROUND DISTRIBUTION, HOLDING The INSERRUNENT Investment Perspective Were Not Really Solved. ”
SDX’s Blockchain-Based Securities Depository is Built on R3’s Corda Distributed Ledger Technology. Investors Get Access Through The Dematerialized Securities Legal Construction in Switzerland, Via Their Broker and Custodian, Newns Said.
“IT Means Effectielyly, They Turn Up in your Bank Account in the Same Way that A Normal Security Does,“ He Said. “IT doesn’t require that you as an as an investor do anything do with the Access Tese Investment Instruments.”
The Announcement Also Marks Citi BComing a Custodian on SDX, A MOVE THAT REFLECTS of the Bank’s Strategy to Provide Clients with ACCESTST MARKETS GLOBALY Nadine Teychenne, Citi’s Global Head of Digital Assets, Investor Services and Issuer Services.
“This is part of a joined-up Project Across Multiple Businesses at Citi,“ Teychenne Said in An Interview.
Digital Asset Banking Group Sygnum and Singapore-Based Financial Institution SBI Digital Markets Will Help with Help with Access to The Pre-Podo Equities That Citi Will Bring.
Read More: Citigroup Unveils Token Services for Institutional Clients
X Icon
