Citi Joins Blockchain Bond Exchange To Revolutionize Bond Trading
Please note that we are not authorised to provide any investment advice. The content on this page is for information purposes only.
Citi Securities Services is leading the way as the first digital custodian to join the BondbloX Bond Exchange, which was launched in 2020. It is renowned as the world’s first exchange where investors can trade fractions of bonds using advanced technology.
BBX was created to make bond investing stress-free, providing investors with an online platform to transact and monitor bonds.
Citi To Allow Investors To Expand Their Investment Portfolio
This pioneering approach has made bond trading more reachable by fragmenting fill-sized bonds, similar to how stocks are traded. It offers trading advantages like improved access to bond exchanges and the recent addition of custodial services and settlement on the BBX market.
In 2021, Bondblox chose City to guard the bonds traded on its platform as fractional assets referred to as “BondbloX.” This bolstered partnership offers more opportunities for Citi’s clients and the BBX members.
Besides using digital custodian services, investors can expand their investment portfolios with more extensive access to the bond marketplace and enjoy immediate payments when they complete trades.
This alliance allows eligible Citi clients to speedily participate in BBX, enabling trading smaller portions and fill-sized bonds. Citi will supervise the smooth settlement and custody services.
The Global Chief of Custody at Citi Securities Services, Matthew Bax, conveyed Citi’s strong commitment to developing the digital financial market infrastructure. The platform focuses on crafting tailored services and products that address the evolving needs of its clients.
Citi Plans To Enhance Its Offerings Through Bondblox
Citi Securities Services, has an impressive portfolio of almost $27.8 trillion in assets under administration, custody, and trust on a global scale.
This remarkable growth continues leading the way in the new digital asset solutions and its innovative strategic goals. The innovations enhance Citi’s wide-ranging offerings, encompassing collateral mobility, custody, digital money, asset servicing, securities, and trade.
Nadine Teychenne, who holds the position of Head of Digital Assets at Citi Securities Services, highlighted the adaptability of the team’s in-house digital custody technology. This process seamlessly integrates with emerging permissioned networks, providing a unified custody solution.
Citi, a preeminent banking partner for organizations with cross-border needs, excels in wealth management and is a trusted personal bank within the United States. It operates in nearly 160 countries, offering comprehensive financial services and products.
Bondblox, on the other hand, founded in 2016, is composed of experts in technology and in the debt capital market for clients in Mexico, India, and Singapore, who share a vision of democratizing access to bonds.
The BondbloX Bond Exchange, supervised by the Monetary Authority of Singapore, is acknowledged as the premier global fractional bond marketplace.
