Citigroup is launching a blockchain-based platform that allows its wealthy and institutional clients to trade tokenized shares of private companies in a move the bank hopes will be adopted across Wall Street.
The venture is initially open only to foreign investors, the Wall Street Journal reported Thursday. Citigroup said it is in discussions with some of the largest private companies to get involved, though specific names were not disclosed.
Companies are taking longer to go public, and Wall Street has been in a sustained frenzy over the anticipated blockbuster stock-market debuts of SpaceX, Anthropic, and others. The trend has arguably created demand for institutional access to private equity exposure that traditional markets cannot easily satisfy.
The move is a natural extension of Citigroup's multi-year push into 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.
Citi's entry into tokenized private company shares puts it alongside a growing field.
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.
Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.
© 2026 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
