TechFlow news: Citibank, in collaboration with WisdomTree and Wellington Management, conducted a proof-of-concept trial on Avalanche's Spruce.
The test covered end-to-end token transfers, secondary transfers, and validation of new features such as collateralized lending. This initiative demonstrates how smart contracts can enhance automation and potentially deliver improved compliance and control for investors and issuers. Citibank's head of digital assets stated that they believe testing tokenization of private assets can help explore new operating models and create efficiencies for broader markets.
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