Receipts Depositary Corp. to Launch XRP-Backed Securities
- Receipts Depositary Corp. (RDC) plans to introduce XRP-backed securities.
- The initiative targets qualified institutional buyers, exempt from SEC registration.
- Securities will be cleared by the Depository Trust Company (DTC).
- RDC’s existing offerings include bitcoin and ether-backed securities.
- Founder Ankit Mehta highlights benefits like direct ownership of assets.
Receipts Depositary Corp., founded by former Citigroup executives, is launching XRP-backed securities for institutional buyers, utilizing a structure that offers direct asset ownership and DTC clearance, similar to its bitcoin and ether products.
Source (2.6)https://www.coindesk.com/markets/2025/02/07/startup-founded-by-citi-alumni-to-launch-xrp-backed-securities?rand=52298
