Citi Securities Services Tapped for Digital Custodian by BondBloX Bond Exchange
Source: Chloe
Citi Securities Services has become the first digital custodian participant of BondBloX Bond Exchange (BBX).
Launched in 2020, BBX is touted as the world’s first fractional bond exchange using distributed ledger technology (DLT). It aims to simplify bond investing by allowing investors to track and trade bonds electronically.
With the partnership, Citi's clients that meet a certain criterion can become BBX participants and begin trading bonds– both fractionalized and full-sized– almost immediately, the bank said in a press announcement.
Citi will provide settlement and custody services at the back end.
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