Citi Bank used Avalanche to explore private equity funds tokenization
Citi Bank, Wellington Management, and WisdomTree explore private equity tokenization on Avalanche. The Proof of concept demonstrates the potential for enhanced automation, compliance, and control. Collaboration with DTCC Digital Assets evaluates interoperability and seamless integration. Citi Bank, in collaboration with Wellington Management and WisdomTree, has ventured into the exploration of private equity funds tokenization using the Avalanche blockchain platform. This innovative initiative aims to revolutionize capital markets by leveraging blockchain technology to enhance operational efficiencies and explore new operating models. Avalanche Spruce Subnet The proof of concept conducted by Citi Bank, Wellington Management, and WisdomTree was facilitated through the Avalanche Spruce institutional test Subnet. This specialized network environment provided an ideal sandbox for testing the tokenization of private funds, offering scalability, efficiency, and