Citigroup unveiled Digital Depositary Receipts, a blockchain-based offering that gives wealthy and institutional investors exposure to private company equity.
The bank said it is using blockchain technology to connect investors with private company equity through digital depositary receipts issued and held by Citi. The structure records the securities on blockchain infrastructure run by Swiss operator SIX.
The product debuted with a transaction involving Kaleido, a digital asset company backed by Citi Ventures. Investors own the depositary receipt rather than the underlying shares directly, while Citi acts as both issuer and custodian.
Citi plans to expand the offering over time, including to public blockchains. Earlier this month the bank joined other major U.S. institutions to develop a shared tokenized deposit network through The Clearing House, with a target launch by mid-2027.
