According to The Wall Street Journal, Citigroup is establishing a channel for its high-net-worth and institutional clients to trade private (unlisted) company stocks through blockchain, and hopes this model will be widely adopted by other Wall Street banks in the future. Currently, the bank is in talks with some of the world's largest unlisted private companies to participate. The project will operate in the form of "Depositary Receipts," which have been authorized and tokenized, with Citigroup acting as the issuer and custodian.