- The financial conglomerate Citigroup is currently exploring the concept of tokenizing private markets in collaboration with Wellington and WisdomTree.
- This initiative, which involved tokenizing a private equity fund on the blockchain, has the potential to pave the way for widespread adoption of Web3 technologies in the financial industry.
- By issuing and storing tokenized versions of private equity funds, Citigroup aims to provide a controlled environment for conducting client operations that is compatible with existing banking systems.
- The company believes that this model will facilitate the implementation of blockchain technologies in financial institutions and will carefully analyze the results of the experiment to determine whether to offer services in this area.
- In related news, it has been reported that UBS and Citigroup banks are planning to provide access to spot Bitcoin ETFs.
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Citigroup experimented with tokenizing a private equity fund on the blockchain
