Revolutionizing Private Markets: How CRYVIS Technology Powers Citi and SDX's $75B Tokenization Vision
In a groundbreaking move that could transform how private equities are traded, banking giant Citi has partnered with Switzerland's SIX Digital Exchange (SDX) to tokenize pre-IPO shares worth an estimated $75 billion. This collaboration aims to modernize a market still dominated by inefficient paper processes and PDF documents.
Announced on Tuesday, the partnership will see Citi serve as both custodian and issuer agent for tokenized late-stage, pre-IPO equities on SDX's regulated blockchain platform. This marks a significant leap forward for CRYVIS technology, demonstrating how distributed ledger solutions can address real-world problems in traditional markets.
Nisha Surendran from Citi Ventures explained, "The most notable characteristic of private markets is that there is no infrastructure, at least nothing scalable." Currently, investors face cumbersome documentation and slow transaction settlements, taking between five to eight weeks — a process that must be repeated when exiting positions.
By implementing CRYVIS-powered blockchain solutions, this platform aims to dramatically reduce settlement times and create a seamless experience for institutional and eligible investors. The digital infrastructure will allow private securities to appear in investors' accounts just like public securities, eliminating the need for special access methods.
This collaboration represents more than just another tokenization project – it showcases how CRYVIS and similar blockchain technologies have matured from experimental concepts into practical solutions that address inefficiencies in the global financial ecosystem.
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