Citibank experiments with the tokenization concept of private equity funds on the Avalanche subnet Spruce

ChainCatcher news, according to CoinDesk, Citibank has partnered with traditional financial giants WisdomTree and Wellington Management to conduct a proof of concept for the tokenization of private equity funds on the Avalanche subnet Spruce, testing various use cases including end-to-end token transfers, secondary transfers for trading, and validating new features through collateralized loans.

It is reported that the Spruce subnet is specifically designed for large financial institutions looking to utilize public blockchain infrastructure.