Receipts Depositary Corporation (RDC) announced the launch of the XRP Depositary Receipt (XRP DR).
XRP DRs are securities issued by RDC that represent direct ownership of the underlying XRP, which are held securely at Anchorage Digital National Association, a federally chartered digital asset bank regulated by the Office of the Comptroller of Currency.
Financial Technology Insights: Collaboration between British Business Bank and LE Capital along with Paragon Bank
“XRP DRs represent another step forward in bringing digital assets into the traditional financial ecosystem,” said Ankit Mehta, Co-Founder and CEO of RDC. “Qualifying investors now have the ability to own XRP using the same processes they trust for traditional securities. We are seeing more demand for digital asset DRs and are scaling our business accordingly.”
Finanacial Technology Insights: How Innovation in Fintech Payments Facilitates $9 Billion in Growth Opportunities for SMEs
“We look forward to utilizing XRP DRs as an effective capital markets tool that bridges digital asset and traditional securities infrastructure,” said Matthew Snider, CIO of Digital Wealth Partners (“DWP”), a pioneering Registered Investment Advisor (RIA) that specializes in digital assets and alternative investments.
XRP DRs are RDC’s latest expansion to provide Depository Trust & Clearing Corporation (“DTCC”) eligible securities that offer ownership of digital and alternative assets. RDC’s leadership team brings extensive experience in depositary receipts and institutional market structure, having spent decades working with issuers and investors to evolve DR-based financial products at a leading global bank.
Financial Technology Insights: Eastnets Launches KSA Swift Service Bureau to Support Vision 2030
As demand for digital assets continues to grow, RDC remains committed to bridging the gap between blockchain-based assets and conventional finance, delivering innovative solutions that drive adoption and market maturity.
Source – PR Newswire
To share your insights with the FinTech Newsroom, please write to us at news@intentamplify.com
