The post Citi Bank, WisdomTree, and Wellington: Pioneering Tokenization on Avalanche appeared first on Coinpedia Fintech News
On 14th February 2024, Citi Bank achieved a groundbreaking milestone by successfully conducting a proof of concept on the tokenization of private funds in collaboration with Wellington Management and WisdomTree. The initiative took place on the Avalanche Spruce institutional test Subnet, revealing the potential of smart contract capabilities to revolutionize traditional assets.
Proof of Concept Details
The proof of concept focused on the tokenization of private funds, a $10 trillion asset class characterized by complex infrastructure, manual processes, and a lack of standardization and transparency.
Citi Bank collaborated with traditional finance giants WisdomTree and Wellington Management to carry out the proof-of-concept trial issued on Avalanche’s Spruce. The experiment, conducted on Avalanche’s Spruce Subnet, unveiled the capacity of smart contracts to
We współpracy z: https://coinpedia.org/news/citi-bank-wisdomtree-and-wellington-pioneering-tokenization-on-avalanche/
