Qualified investors will soon be able to buy XRP receipts through the Receipts Depositary Corporation (RDC) and Digital Wealth Partners (DWP).
This financial instrument allows investors to access XRP in a regulated environment without having to purchase the digital currency directly from a trading platform. By buying XRP depository receipts, investors can indirectly own XRP, with the actual assets being securely stored by a licensed custodian.
Eleanor Terrett made a similar announcement on X, stating that “XRP depository receipts will be available for purchase by qualified investors in the near future through ReceiptsDepo and DWP Advisors.”
Anchorage, a federally chartered bank overseen by the U.S. Office of the Comptroller of the Currency (OCC), will be the custodian of the depository receipts.
XRP DRs function in a manner reminiscent of American Depositary Receipts (ADRs), allowing foreign companies to offer shares of their business without having to be listed on foreign stock markets.
RDC, a new company established by former Citigroup leaders, is-supported assets to institutional investors through the regulated market infrastructure in the United States.
XRP DRs have already been set up within a regulated framework, making them accessible to all qualified investors, unlike XRP ETFs and Trusts that are awaiting SEC approval.
The XRP DR program is eligible with DTC, enabling its seamless integration into institutional trading platforms that support electronic settlement. This facilitates banks and brokers in managing XRP investments in a manner similar to handling other securities.
XRP DRs allow investors to easily exchange their holdings for actual XRP when permitted by regulations, using the existing market system for a seamless experience similar to trading stocks.
Additionally, for a considerable time, depository receipts have been utilized to enable investors to reach assets that are not usually found in U.S. markets. Presently, this method is also being employed for cryptocurrencies, thus enhancing the accessibility of XRP to institutional investors.
