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Citi , Switzerland’s SDX Join Forces to Tokenize $75B Pre-IPO Shares Market

  • Citi and Switzerland's SIX Digital Exchange announced on May 2025 their partnership to tokenize $75 billion in pre-IPO shares using blockchain technology.
  • This collaboration responds to longstanding challenges in private markets, including manual processes and lack of scalable infrastructure, as discussed at the Point Zero Forum.
  • Citi will act as custodian and issuer agent on SDX's regulated blockchain-based Central Securities Depository platform, enabling streamlined liquidity and cap table management for high-growth private companies.
  • Marni McManus noted that Switzerland's mature regulatory framework and SDX's technology allow Citi to launch this innovation, while David Newns said the region has a "very mature digital-securities regulatory environment" since 2021.
  • The platform, expected in Q3 2025, aims to expand investor access across Europe and Asia via partners like Sygnum and SBI Digital Markets, indicating growing institutional interest in digitizing private assets.
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Coin Desk broke the news in Manila, Philippines on Tuesday, May 6, 2025.
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