Citi ventures into custody for fractionalized bonds in Singapore
Citi’s securities services business will provide custody services for fractional ized and full-sized blockchain-based bonds . Citi Securities Services, a management hub offering securities solutions, is now providing digital custody for bonds traded on BondbloX Bond Exchange (BBX), a fractional bond exchange regulated by the Monetary Authority of Singapore. In a press release on Sept. 14, Citi said the partnership will allow its clients that “meet certain criteria” to begin trading fractionalized and full-sized digitized bonds on BBX. The New York-headquartered bank didn’t provide criteria for accessing the exchange. “This proprietary digital custody technology is scalable and will allow us to provide settlement and custody services for clients investing in assets issued on permissioned blockchain networks and digital financial market infrastructures.” Matthew Bax, Global Head of Custody for Citi Securities Services Founded in 2016, BBX sett...