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Citigroup Launches Tokenized Depositary Receipts for Private-Company Shares

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Citigroup (C) launched tokenized depositary receipts for private-company shares, expanding its use of blockchain technology in private markets.

The model builds on Citi's Depositary Receipts and Custody businesses and allows private-company shares to be represented as digital tokens, the bank said Thursday in a statement.

The initial transaction was conducted with Kaleido, a Citi portfolio company, and investors from the bank's wealth unit.

Citi said it plans to extend the offering across both digital and traditional financial markets and to multiple blockchain networks.

Price: $137.14, Change: $+3.76, Percent Change: +2.82%

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