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#XRPUSDT $XRP #BTC Receipts Depositary Corp. to Introduce XRP-Backed Securities
Receipts Depositary Corp. (RDC), a startup founded by former Citigroup executives, is reportedly planning to expand its product suite to include XRP-backed securities, according to CoinDesk. This development would provide institutional investors with access to XRP through established U.S. regulatory channels.
This news follows RDC's launch last year of the first Bitcoin Depositary Receipt (BTC DR), which enabled institutional-grade Bitcoin ownership within the U.S. securities ecosystem. Similar to American Depositary Receipts (ADRs), BTC DRs allow qualified institutional buyers (QIBs) to hold and trade Bitcoin using familiar infrastructure. The planned XRP securities will utilize a similar clearing process through the Depository Trust Company (DTC).
RDC was founded by Ankit Mehta, Bryant Kim, and Ishaan Narain, all former Citigroup employees. The company's backers include asset manager Franklin Templeton, financial services firm BTIG, and venture capital firm Broadhaven Ventures. RDC has not yet responded to requests for comment.