Citi issues its first digitally native structured note
09 March 2026 Luxembourg
Image: Olena Filat/stock.adobe.com
Citi has issued its first digitally native structured note on Euroclear’s Digital Financial Market Infrastructure (D-FMI) platform.
According to the firm, this transaction marks the debut of a digitally native structured note being issued on Euroclear’s D-FMI and, represents the first of its kind being offered within the wealth management industry.
The digitally native structured note was issued under English Law and the issuer is Citigroup Global Markets Funding Luxembourg.
Bhaavit Agrawal, global head of Financial Institutions Structuring, Markets, at Citi, says: “This pioneering issuance marks an important step forward as we lead the first digitally native structured note on Euroclear's D-FMI.
“This dual milestone demonstrates our commitment to leveraging DLT to enhance efficiency, transparency, and innovation across the markets business and wider franchise.”
Russell Budnick, head of Capital Markets, Investment Solutions for Citi Wealth, notes: “Issuing this digitally native structured note on Euroclear’s D-FMI platform demonstrates how we can deliver traditional structured products more efficiently by leveraging distributed ledger technology while preserving the full investment profile clients expect.
“This marks an important step in expanding digitally native solutions across our global wealth franchise.”
Isabelle Delorme, head of Product Strategy and Innovation at Euroclear, comments: “This note illustrates how trusted market infrastructure can evolve to support innovation at scale.
“It reflects our ambition to move digital issuance from experimentation into everyday market practice across various distribution channels, embedding digital at the core of the financial ecosystem to enable more efficient capital flows.
“Together with Citi, we are embedding distributed ledger technology into existing market frameworks while preserving the robustness, legal certainty and investor protections global markets depend on.”
According to the firm, this transaction marks the debut of a digitally native structured note being issued on Euroclear’s D-FMI and, represents the first of its kind being offered within the wealth management industry.
The digitally native structured note was issued under English Law and the issuer is Citigroup Global Markets Funding Luxembourg.
Bhaavit Agrawal, global head of Financial Institutions Structuring, Markets, at Citi, says: “This pioneering issuance marks an important step forward as we lead the first digitally native structured note on Euroclear's D-FMI.
“This dual milestone demonstrates our commitment to leveraging DLT to enhance efficiency, transparency, and innovation across the markets business and wider franchise.”
Russell Budnick, head of Capital Markets, Investment Solutions for Citi Wealth, notes: “Issuing this digitally native structured note on Euroclear’s D-FMI platform demonstrates how we can deliver traditional structured products more efficiently by leveraging distributed ledger technology while preserving the full investment profile clients expect.
“This marks an important step in expanding digitally native solutions across our global wealth franchise.”
Isabelle Delorme, head of Product Strategy and Innovation at Euroclear, comments: “This note illustrates how trusted market infrastructure can evolve to support innovation at scale.
“It reflects our ambition to move digital issuance from experimentation into everyday market practice across various distribution channels, embedding digital at the core of the financial ecosystem to enable more efficient capital flows.
“Together with Citi, we are embedding distributed ledger technology into existing market frameworks while preserving the robustness, legal certainty and investor protections global markets depend on.”
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