Citigroup is launching a blockchain-based platform that allows wealthy and institutional clients to trade tokenized shares of private companies, the Wall Street Journal reported Thursday. The bank is in discussions with some of the largest private companies to participate, though specific names were not disclosed. The venture initially opens only to foreign investors, addressing institutional demand for private equity exposure as companies take longer to go public—a trend Wall Street has experienced with anticipated debuts from SpaceX, Anthropic, and others that traditional markets cannot easily satisfy.
Citigroup Builds on Multi-Year Tokenization Push
The platform extends Citigroup's multi-year focus on tokenization. In 2023, the bank forecast that the tokenized securities market could reach up to $4 trillion by 2030, calling tokenization the potential "killer use-case" for blockchain, as The Block reported at the time. That same year, Citi launched a pilot of its Token Services product, converting customer deposits into digital tokens on a private blockchain to enable near-instantaneous cross-border transfers.
More recently, Citigroup joined a JPMorgan-backed consortium planning to launch a tokenized deposit network as early as the first half of 2027, reportedly aiming to enable around-the-clock settlement for large global clients.
Republic and Robinhood Enter Tokenized Private Equity Market
Citigroup's entry puts it alongside a growing field of competitors. Republic announced plans last year to offer blockchain-based tokens that track shares in SpaceX, OpenAI, and Anthropic, with investment starting as low as $50.
Robinhood moved to offer tokenized shares of OpenAI and SpaceX to European users around the same time, minting tokens on Arbitrum. However, OpenAI publicly pushed back, clarifying it had not authorized or endorsed the tokens.
Bernstein analysts called the broader trend an "equity tokenization wave" in July 2025, citing Robinhood's push as an early signal of institutional momentum building behind the concept.
FAQ
What did Citigroup launch for institutional clients?
Citigroup launched a blockchain-based platform that allows wealthy and institutional clients to trade tokenized shares of private companies, the Wall Street Journal reported Thursday. The venture initially opens only to foreign investors.
Why is Citigroup offering tokenized private company shares?
Companies are taking longer to go public, creating institutional demand for private equity exposure that traditional markets cannot easily satisfy. Wall Street has experienced sustained interest in anticipated stock-market debuts from SpaceX, Anthropic, and others.
What did Citigroup forecast about tokenized securities in 2023?
In 2023, Citigroup forecast that the tokenized securities market could reach up to $4 trillion by 2030, calling tokenization the potential "killer use-case" for blockchain.
