Citi uses Avalanche to complete tokenization testing in the private placement market

Citi, in collaboration with Wellington Management, Wisdomtree, and ABN AMRO, has completed the conceptual verification of tokenizing private funds on the Avalanche blockchain. The test utilized the Avalanche subnetwork Spruce to tokenize the funds and trade tokenized assets, which are programmed for "automated operations, faster settlement, and enabling new composability use cases."