Citi Securities Services Becomes First Digital Custodian on BondbloX Bond Exchange
Citi Securities Services has achieved a significant milestone by becoming the first digital custodian participant on the BondbloX Bond Exchange network. This partnership aims to make bond trading more accessible to a wider investor community.
Citi’s Partnership with BondbloX
BondbloX Bond Exchange, launched in 2020, leverages distributed ledger technology to fractionalize full-sized bonds, democratizing access to bond trading. Citi was selected as the custodian for bonds issued and traded on the exchange in 2021.
The expanded relationship between BBX and Citi will provide various benefits, including access to digital custodial services, broader access to the global bond market, and immediate atomic settlement at trade execution.
Enhancing Bond Trading with Digital Custody
Citi’s collaboration with BBX enables eligible clients to trade fractional and full-sized bonds on the platform while benefiting from Citi’s comprehensive settlement and custody services. This partnership aligns with Citi’s commitment to investing in the future of digital financial market infrastructure.
BondbloX CEO Highlights Transparency and Accessibility
Dr Rahul Banerjee, co-founder and CEO of BondbloX, emphasizes how digital custody will revolutionize the bonds market by introducing transparency and accessibility. The partnership with Citi will enable Citi’s clients to experience the advantages of trading bonds on BondbloX.
Citi’s Focus on Future Financial Market Infrastructure
Citi remains dedicated to developing innovative products and services for the future of digital financial market infrastructure. With its extensive network spanning over 60 markets and trillions of assets under custody, administration, and trust worldwide, Citi Securities Services continues to provide cross-border support.
Citigroup’s Reorganization and Job Cuts
In a bid to secure its future, Citigroup is undergoing significant managerial and structural changes, the largest in the past 25 years. This reorganization may lead to job cuts as the bank aims to simplify its organizational structure.
Hot Take: Citi Partners with BondbloX to Transform Bond Trading
Citi’s collaboration with BondbloX as the first digital custodian on the Bond Exchange network signifies their commitment to revolutionizing bond trading and investing. By leveraging digital custody and distributed ledger technology, this partnership aims to make bond trading more accessible, transparent, and efficient for investors. With Citi’s extensive experience in financial services and BondbloX’s innovative platform, clients can expect enhanced access to the global bond market and seamless settlement processes. This strategic move aligns with Citi’s focus on the future of digital financial market infrastructure and reinforces their position as a leading provider of cross-border support.
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