Citi Issues Inaugural Digitally Native Structured Note on Euroclear's D-FMI DLT Platform
- Citi has issued its inaugural digitally native structured note on Euroclear's Digital Financial Market Infrastructure (D-FMI) Distributed Ledger Technology (DLT) Platform
- This type of transaction is a first for Euroclear's D-FMI and the first of its kind within the wealth management industry, demonstrating Citi's commitment to enhancing efficiency, transparency, and innovation across the bank
- The deal showcases DLT's seamless integration into financial markets, accelerating digital transformation and creating new possibilities across asset classes
Citi has issued its first digitally native structured note on Euroclear's Digital Financial Market Infrastructure platform. This transaction marks a debut of a digitally native structured note being issued on Euroclear's D-FMI and represents the first of its kind being offered within the wealth management industry.
The digitally native structured note was issued under English Law. The issuer is Citigroup Global Markets Funding Luxembourg, reflecting Luxembourg's supportive environment for digital financial innovation.
"This pioneering issuance marks an important step forward as we lead the first digitally native structured note on Euroclear's D-FMI. This dual milestone demonstrates our commitment to leveraging DLT to enhance efficiency, transparency, and innovation across the Markets business and wider franchise," said Bhaavit Agrawal, Global Head of Financial Institutions Structuring, Markets, at Citi.
Russell Budnick, Head of Capital Markets, Investment Solutions for Citi Wealth, said, "Issuing this digitally native structured note on Euroclear's D‑FMI platform demonstrates how we can deliver traditional structured products more efficiently by leveraging distributed ledger technology while preserving the full investment profile clients expect. This marks an important step in expanding digitally native solutions across our global wealth franchise."
"As issuing and paying agent, we are leveraging our experience in supporting the settlement of digital issuances while actively shaping the development of digital capital markets. Our role in this transaction exemplifies Issuer Services' commitment to connecting global issuers to new and emerging opportunities, particularly in facilitating the first structured note issuance on the D-FMI. This deal is made even more significant as it showcases the full breadth of Citi's capabilities, bringing together various businesses across the firm on this landmark transaction," said Dirk Jones, Head of Issuer Services at Citi.
"This note illustrates how trusted market infrastructure can evolve to support innovation at scale. It reflects our ambition to move digital issuance from experimentation into everyday market practice across various distribution channels, embedding digital at the core of the financial ecosystem to enable more efficient capital flows. Together with Citi, we are embedding distributed ledger technology into existing market frameworks while preserving the robustness, legal certainty and investor protections global markets depend on," said Isabelle Delorme, Head of Product Strategy and Innovation at Euroclear.
This transaction represents a significant step in the ongoing digital transformation of financial markets, illustrating how DLT can be seamlessly integrated into existing market structures to unlock new possibilities for various asset classes. Citi continues to develop digital asset solutions, utilizing a unified technology framework to enhance its product offerings.
About Citi
Citi is a preeminent banking partner for institutions with cross-border needs, a global leader in wealth management and a valued personal bank in its home market of the United States. Citi does business in more than 180 countries and jurisdictions, providing corporations, governments, investors, institutions and individuals with a broad range of financial products and services.
Additional information may be found at www.citigroup.com | X: @Citi | LinkedIn: www.linkedin.com/company/citi | YouTube: www.youtube.com/citi | Facebook: www.facebook.com/citi
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