{"id":12337,"date":"2024-02-15T18:30:01","date_gmt":"2024-02-15T18:30:01","guid":{"rendered":"https:\/\/coinengineer.io\/blog\/?p=12337"},"modified":"2024-02-15T14:03:30","modified_gmt":"2024-02-15T14:03:30","slug":"citibank-which-coins-infrastructure-did-use-for-tokenization","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/citibank-which-coins-infrastructure-did-use-for-tokenization\/","title":{"rendered":"Which Coin&#8217;s Infrastructure Did Citibank Use For Tokenization?"},"content":{"rendered":"<p>The US-based <strong>Citibank<\/strong> has announced that it used the <strong>Avalanche (AVAX)<\/strong> Spruce Subnet to test private equity tokenizations. Last year, <strong>JPMorgan<\/strong> had also used Avalanche for portfolio management. This kind of news is seen as positive for the use of cryptocurrencies in other fields.<\/p>\n<blockquote><p>You might be interested in: <a href=\"https:\/\/coinengineer.net\/blog\/cardano-ada-eyes-1-glory-hype-or-reality\/\" target=\"_blank\" rel=\"noopener\"><span style=\"text-decoration: underline;\"><em><strong>Cardano (ADA) Eyes $1 Glory: Hype or Reality?<\/strong><\/em><\/span><\/a><\/p><\/blockquote>\n<p><strong>WisdomTree<\/strong>, Wellington Management, T. Rowe Price Associates and<strong> Cumberland<\/strong> also participated in this tokenization test with Citibank. The work was also jointly conducted.<\/p>\n<p>Last year in April, these companies had also joined the Avalanche subnet mainly for efficient trading.<\/p>\n<p>Ava Labs Business Development Director <strong>Morgan Krupetsky<\/strong> made some statements on her X (Twitter) account.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p dir=\"ltr\" lang=\"en\">After launching Avalanche Spruce, an Evergreen Subnet built for buy- &amp; sell-side FIs to measure the benefits of on-chain finance, today marks a major update as <a href=\"https:\/\/twitter.com\/Citi?ref_src=twsrc%5Etfw\">@Citi<\/a> &amp; <a href=\"https:\/\/twitter.com\/The_DTCC_DA?ref_src=twsrc%5Etfw\">@The_DTCC_DA<\/a> join the network &amp; test the benefits of private market tokenization with key asset managers\u2026 <a href=\"https:\/\/t.co\/U2BrtVvb4X\">https:\/\/t.co\/U2BrtVvb4X<\/a><\/p>\n<p>\u2014 morgan \u201ctokenization queen\u201d krupetsky (@MorganKrupetsky) <a href=\"https:\/\/twitter.com\/MorganKrupetsky\/status\/1757808051824840960?ref_src=twsrc%5Etfw\">February 14, 2024<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>According to <strong>Morgan Krupetsky<\/strong>, <em>&#8216;after launching Avalanche Spruce, an Evergreen Subnet to measure the benefits of on-chain financing, there will be a major update with the joining of Citibank to the network&#8217;.<\/em><\/p>\n<p>Also, a statement came from Citibank. <strong>Nisha Surendran<\/strong> said the following:<\/p>\n<p><em>&#8216;We believe that with the private asset tokenization test, we are exploring the feasibility of efficiency in opening up new operational models and reaching a wider market&#8217;<\/em><\/p>\n<hr \/>\n<div class=\"attachment-container search-images\">\n<div class=\"image-container hide-from-message-actions ng-star-inserted\">\n<div class=\"overlay-container ng-star-inserted\">\n<div class=\"darkmysite_style_txt_border darkmysite_processed\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\">\n<div class=\"content darkmysite_style_txt_border darkmysite_processed\" tabindex=\"0\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\">\n<div class=\"ac-container ac-adaptiveCard darkmysite_style_txt_border darkmysite_processed\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\">\n<div class=\"ac-textBlock darkmysite_style_txt_border darkmysite_processed\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\">\n<div class=\"darkmysite_style_txt_border darkmysite_processed\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\">\n<div class=\"darkmysite_style_txt_border darkmysite_processed\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\">\n<div class=\"darkmysite_style_txt_border darkmysite_processed\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\">\n<div class=\"darkmysite_style_txt_border darkmysite_processed\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\">\n<div class=\"darkmysite_style_txt_border darkmysite_processed\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\">\n<p class=\"darkmysite_style_txt_border darkmysite_processed\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\"><em class=\"darkmysite_style_txt_border darkmysite_processed\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\">Also, you can freely share your thoughts and comments about the topic in the comment section. Additionally, please follow us on our\u00a0<a class=\"darkmysite_style_txt_border darkmysite_style_link darkmysite_processed\" href=\"https:\/\/t.me\/coinengineernews\" target=\"_blank\" rel=\"noreferrer noopener\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\"><strong class=\"darkmysite_style_txt_border darkmysite_processed\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\">Telegram<\/strong>,\u00a0<\/a><a class=\"darkmysite_style_txt_border darkmysite_style_link darkmysite_processed\" href=\"https:\/\/www.youtube.com\/@CoinEngineer\" target=\"_blank\" rel=\"noreferrer noopener\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\"><strong class=\"darkmysite_style_txt_border darkmysite_processed\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\">YouTube<\/strong><\/a>\u00a0and\u00a0<a class=\"darkmysite_style_txt_border darkmysite_style_link darkmysite_processed\" href=\"https:\/\/twitter.com\/coinengineers\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\"><strong class=\"darkmysite_style_txt_border darkmysite_processed\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\">Twitter<\/strong><\/a> channels for the latest news and updates.<\/em><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The US-based Citibank has announced that it used the Avalanche (AVAX) Spruce Subnet to test private equity tokenizations. Last year, JPMorgan had also used Avalanche for portfolio management. This kind of news is seen as positive for the use of cryptocurrencies in other fields. You might be interested in: Cardano (ADA) Eyes $1 Glory: Hype<\/p>\n","protected":false},"author":1,"featured_media":12336,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9,2],"tags":[273,272,4399,4400,4401,4402],"class_list":["post-12337","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","category-news","tag-avalanche","tag-avax","tag-citibank","tag-morgan-krupetsky","tag-nisha-surendran","tag-spruce-subnet"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Which Coin&#039;s Infrastructure Did Citibank Use For Tokenization? - Coin Engineer<\/title>\n<meta name=\"description\" content=\"The US-based Citibank has announced that it used the Avalanche (AVAX) Spruce Subnet to test private equity tokenizations.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinengineer.net\/blog\/citibank-which-coins-infrastructure-did-use-for-tokenization\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Which Coin&#039;s Infrastructure Did Citibank Use For Tokenization? 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