Key Takeaways
- • Citi Ventures has invested in Hong Kong-headquartered digital asset startup xalts, alongside Accel India and other investors, according to Ledger Insights.
- • xalts was co-founded this year by former HSBC trader Ashutosh Goel, who serves as Chief Investment Officer, and ex-Meta Asia executive Supreet Kaur.
- • The firm plans to launch ETFs and mutual funds for cryptocurrencies and operates platforms for tokenizing structured products and tokenized funds.
- • Goel frames institutional participation as the next growth driver for digital assets, citing early signs of new initiatives from banks and asset managers.
Summary
Citi Ventures, the venture arm of Citigroup, has invested in xalts, a digital asset startup headquartered in Hong Kong, according to Ledger Insights. The investment was made alongside Accel India and other undisclosed investors. The article does not disclose the size of the funding round.
xalts was co-founded this year by Ashutosh Goel, a former HSBC trader who serves as the firm's Chief Investment Officer, and Supreet Kaur, a former Meta Asia executive. The company is positioning itself around institutional adoption of digital assets, a theme Goel articulated directly.
Quoting Goel, Ledger Insights reported that "the next leg of growth in digital assets will be driven by institutional participation in the asset class." He added: "We are starting to see the early signs of that with a lot of new initiatives coming from banks and asset managers."
According to the report, xalts aims to release exchange-traded funds and mutual funds for cryptocurrencies. The company also operates platforms for tokenizing structured products and tokenized funds, areas that align with the broader push by traditional financial institutions into digital asset infrastructure. The full article is available to subscribers only, so further details on fund structures, timelines and regulatory approvals were not available in the source material.
xalts was co-founded this year by Ashutosh Goel, a former HSBC trader who serves as the firm's Chief Investment Officer, and Supreet Kaur, a former Meta Asia executive. The company is positioning itself around institutional adoption of digital assets, a theme Goel articulated directly.
Quoting Goel, Ledger Insights reported that "the next leg of growth in digital assets will be driven by institutional participation in the asset class." He added: "We are starting to see the early signs of that with a lot of new initiatives coming from banks and asset managers."
According to the report, xalts aims to release exchange-traded funds and mutual funds for cryptocurrencies. The company also operates platforms for tokenizing structured products and tokenized funds, areas that align with the broader push by traditional financial institutions into digital asset infrastructure. The full article is available to subscribers only, so further details on fund structures, timelines and regulatory approvals were not available in the source material.
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