Startup founded by former Citigroup executives to launch XRP-backed securities
Receipts Depositary Corp.
#RDC , a start-up founded by former
#Citigroup executives, is set to launch
#XRP -backed securities. The new offering will provide institutions with access to
$XRP through U.S. regulated market infrastructure. RDC, which already offers bitcoin and ether-backed securities, plans to use depositary receipts similar to American depositary receipts (ADRs) for foreign stocks. These securities will be available to qualified institutional buyers in exempt transactions, bypassing SEC approval.