Tokenization | February 16, 2024
Image: Unsplash/Joshua Lawrence
Citi is collaborating with Wellington Management and WisdomTree to explore tokenization in private markets with the goal of disrupting a $10 trillion sector.
February 14, 2024: Citi, in collaboration with Wellington Management and WisdomTree, successfully completes a proof of concept for tokenization of private markets. This initiative: Performed on the Avalanche Spruce institutional test subnetIt aims to gain operational efficiencies and new capabilities using blockchain technology. 10 trillion dollars A private market sector that has traditionally suffered from complex and manual processes.
- Cooperation Tokenization test for Wellington issued private equity fund, demonstrating the potential of smart contracts to streamline operations in compliance with regulations. What are the results of the experiment? smart contract We enable buy-side and sell-side institutions to participate in distributed ledger infrastructure in a low-risk and compliant manner. Unprecedented operational efficiency.
see: Fund Tokenization: Partial Issuance, Simplified Redemption and Service Benefits
- By encoding the fund distribution rules into a smart contract, the initiative promises to: Increased automation, enhanced compliance and control environment For issuers, distributors and investors.
- Citi’s exploration of tokenization is not just theoretical. It includes a real-world transfer scenario using smart contracts and demonstrates the feasibility of a new operating model that: It can revolutionize the market.
Nisha SurendranHead of Emerging Solutions, Citi Digital Assets:
“Smart contracts and blockchain technology enable enhanced rule enforcement at the infrastructure level, allowing data and workflows to move with assets. By testing the tokenization of private assets, we are testing the feasibility of launching new operations. “I believe we are exploring creating models and creating efficiencies for the broader market.”
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