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The collaboration between Citi and SDX extends beyond just the two entities. To drive demand and facilitate access for their respective client bases, they are working with two key players in the digital asset space:
* Sygnum: A regulated Swiss digital asset bank. Sygnum will play a role in facilitating access to the tokenized pre-IPO equities for Citi’s and SDX’s clients, particularly in Europe.
* SBI Digital Markets: A Singapore-based digital asset financial institution and part of the SBI Group. SBI Digital Markets will help to drive demand and provide access to these tokenized assets for clients in Asia.
SIX and SBI’s Separate Joint Venture:
It’s also important to note the separate, pre-existing relationship between SIX (the parent company of SDX) and SBI through their joint venture, AsiaNext.
* AsiaNext: This Singapore-based venture was established to create an institutional-grade digital asset exchange and Central Securities Depository (CSD) platform in Asia. It aims to bridge the digital asset ecosystems between Europe and Asia, leveraging the expertise and regulatory experience of both SIX and SBI. AsiaNext has received the necessary licenses in Singapore to operate a regulated market for digital securities and funds, offering services like listing, trading, clearing, settlement, and custody.
The Synergistic Effect:
The involvement of Sygnum and SBI Digital Markets alongside Citi and SDX creates a powerful network:
* Citi’s Global Reach: Provides a vast network of institutional and eligible private clients interested in accessing new investment opportunities.
* SDX’s Regulated Infrastructure: Offers a secure and compliant platform for the issuance, trading, and custody of tokenized assets.
* Sygnum’s Digital Asset Banking Expertise: Facilitates access for European clients within a regulated digital asset framework.
* SBI Digital Markets’ Asian Market Access: Connects the tokenized assets to a significant and growing investor base in Asia.
* AsiaNext’s Broader Institutional Digital Asset Platform: While distinct from the Citi/SDX initiative, it contributes to the overall digital asset infrastructure and liquidity in Asia, potentially creating future synergies.
This multi-party collaboration underscores the growing recognition that widespread adoption of tokenized assets requires not only technological solutions but also the active participation of established financial institutions and specialized digital asset players to build both the supply and demand sides of the market. The aim is to create seamless access for investors across different regions to these newly tokenized private market opportunities within a regulated and trusted environment.

Video courtesy of Interactive Brokershome

Video courtesy of Interactive Brokers