Caplight to Price Citi Tokenized Private Share Receipts
Caplight Technologies will provide independent pricing for Citi's new Digital Depositary Receipt product, which tokenizes private company shares for eligible investors, Caplight said in a press release. Citi's first DDR represents shares in Kaleido, Inc.
Caplight's MarketPrice data feed will provide ongoing pricing for the private company securities underlying Citi's DDR issuances. The feed uses pricing models driven by AI to combine transaction data, market signals, and fundamental data across more than 100,000 venture backed companies.
The pricing feed will support fee assessment and periodic custodial reporting for Citi's DDR program. Citi's DDR applies a depositary receipt structure to private company shares and includes custody and settlement for eligible investors.
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