GuShiio.com According to Bloomberg, Citigroup partnered with Wellington Management and WisdomTree to conduct a simulation test that showed how to tokenize private equity funds on a blockchain network. The project demonstrates that tokenized private equity funds can be issued and hosted for clients while consistent with existing banking systems. Puneet Singhvi, head of digital assets at Citi, said such simulation tests will help institutions integrate blockchain technology in a way that is consistent with financial regulations. In addition, according to Yueqi Yang, State Street plans to launch a digital asset custody business next year, while BNY already provides custody services for Bitcoin and Ethereum and plans to expand to more tokens. At the same time, Coinbase is in talks with banks to provide custody and trading services, but many banks still need regulatory approval from the Federal Reserve and the New York Financial Services Bureau and face regulatory capital considerations, which have slowed their entry into crypto transactions.
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