Citigroup builds tokenized share platform for SpaceX, Anthropic

Citigroup is building a blockchain-based system to let clients trade tokenized stakes in private companies, the Wall Street Journal reported. The bank is talking to several private firms about joining the platform.

The marketplace targets wealthy individuals and institutional investors. It gives them a way to buy into high-growth private businesses before an initial public offering, the Journal said. Demand is strong for names like SpaceX and Anthropic, two potential IPO candidates.

Tokenized shares represent ownership in a company on a distributed ledger. The approach makes it easier to trade stakes that are normally locked up for years. Citigroup plans to use its existing custody and settlement infrastructure to run the platform, according to the report.

The move follows a broader push by Wall Street banks into private-market access. Several competitors have launched similar efforts, though few have gone live at scale. Citigroup has not set a launch date, the Journal said.