Citi and SDX have announced a groundbreaking partnership aimed at transforming access to private market assets for global issuers and investors. Expected to launch in the third quarter of 2025, the collaboration will see Citi join SDX as a custodian and tokenisation agent, leveraging SDX’s digital Central Securities Depositary (CSD) platform to tokenise, settle, and safeguard assets.
The initiative, revealed at the Point Zero Forum in Switzerland, seeks to address the complexities of traditional private markets. By making shares in high-growth, venture-backed private companies more accessible, the partnership aims to simplify liquidity management for early investors and employees whilst maintaining control over cap tables. David Newns, Head of SDX, highlighted the project’s significance, stating, “This initiative will distinguish itself in the industry by using SDX’s regulated blockchain-based technology.”
Citi’s involvement will enable the distribution of late-stage pre-IPO equities to institutional and eligible investors on the SDX platform. Marni McManus, Citi Country Officer and Head of Banking for Switzerland, Monaco, and Liechtenstein, noted that Switzerland’s regulatory framework and SDX’s infrastructure are pivotal in bringing this innovative solution to market.
The collaboration also supports the development of the Swiss digital asset ecosystem, with global digital asset banking group Sygnum and Singapore-based SBI Digital Markets facilitating access to the equities in Europe and Asia. Ryan Marsh, Head of Innovation and Strategic Partnerships at Citi, emphasised the importance of meeting client demand for digital asset ecosystems, stating, “As tokenisation scales, we are meeting client demand for access to emerging and relevant digital asset ecosystems and investments.”
This partnership marks a significant step in the digitisation of private markets, promising to streamline what has traditionally been a manual and paper-driven industry.
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