Qualified investors will soon have the opportunity to gain regulated exposure to XRP without directly purchasing the cryptocurrency, as a new initiative introduces XRP Depository Receipts (DRs). These receipts, offered by Receipts Depositary Corporation (RDC) and Digital Wealth Partners (DWP), allow investors to hold ownership of XRP through a regulated custodian.
This development was confirmed by Eleanor Terrett, who announced on X (formerly Twitter) that $XRP depository receipts would soon be available for accredited investors via @ReceiptsDepo and @DWP_advisors.
The depository receipts will be securely held by Anchorage, a federally chartered bank regulated by the U.S. Office of the Comptroller of the Currency (OCC). Each XRP DR functions similarly to American Depositary Receipts (ADRs), which enable foreign companies to sell shares in the U.S. market without needing to list on foreign stock exchanges.
Led by RDC, a start-up founded by former Citigroup executives, this initiative is the first of its kind to bring XRP-backed securities to institutional investors within a U.S. regulated framework. Unlike XRP ETFs and Trusts, which still await approval from the SEC, XRP DRs are already set within a regulated environment and are readily available to all qualified investors.
The XRP DR program is also DTC-eligible, meaning it is integrated into institutional trading platforms, offering electronic settlement and making XRP investments as straightforward as trading traditional securities. Additionally, the system allows for in-kind convertibility, enabling investors to exchange DRs for actual XRP where regulations permit.
By utilizing existing market infrastructure, XRP DRs aim to simplify crypto investments and make the asset more accessible to institutional investors, similar to how depository receipts have traditionally been used for foreign assets. This new development marks a significant step toward greater integration of cryptocurrencies into traditional financial markets.
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