Citi launches digital depository receipts on private shares

Citi has launched Digital Depositary Receipts on private shares, marking a significant innovation in private market access for global issuers and investors. This product, introduced on June 11, 2026, offers a transparent and efficient model for capital formation by leveraging tokenized solutions on regulated blockchain infrastructure operated by SIX, a leading digital central securities depository. The initiative represents first time issued and acted as custodian for tokenized depositary receipts representing private companies.

The new offering addresses challenges in traditional private market structures, including complexity, lack of transparency, and fragmented secondary markets. By utilizing blockchain technology, Citi aims to reduce costs and streamline transactions while maintaining institutional-grade safeguards. The tokenized depositary receipts provide a familiar investment structure for investors and allow private companies to access liquidity without public listing or altering ownership rights.

An inaugural transaction involving Kaleido, an institutional tokenization platform, and Citi portfolio company, was executed with support from Citi’s Wealth and Secondary Private Markets teams. This launch reflects a coordinated effort across Citi divisions to create a scalable model for future issuances. The product is designed to enhance client service, safeguard assets, and facilitate capital markets activity with the same rigor as traditional financial systems.

For investors, particularly those in Citi’s Wealth business, the product expands access to private market opportunities through a structure that aligns with existing investment platforms. The integration of tokenized depositary receipts into these platforms aims to preserve operational safeguards while offering greater flexibility. Citi is also exploring future extensions across digital and traditional financial infrastructures, as well as multiple blockchain networks.