Citi: Tokenization Efficiency Gains in Private Shares

Citi rolled out Digital Depositary Receipts on SIX’s regulated DLT platform, delivering faster capital access, slashed intermediary costs and deeper liquidity for private shares. The move aligns with Citi Institute forecasts of a $5.5T tokenization market by 2030, yet it concentrates trading among accredited investors and institutions, potentially shrinking public IPO volumes and limiting broader retail entry into capital markets. Private markets tokenization now shifts liquidity dynamics away from open exchanges toward closed high-net-worth ecosystems.