Receipts Depo (RDC) Is Set to Launch XRP Depository Receipts (DR) in the United States

The offering is designed for accredited investors and backed by DWP Advisors. According to Fox Business Journalist Eleanor Terrett, this offering will be overseen

Digital securities firm Receipts Depo (RDC) is preparing to launch XRP Depository Receipts (DR) in the United States. The offering is designed for accredited investors and backed by DWP Advisors. According to Fox Business Journalist Eleanor Terrett, this offering will be overseen by the United States Office of the Comptroller of the Currency (OCC).

The XRP DR product is closely similar to American Depository Receipts (ADR), as described by Terrett on X. While ADRs represent the shares of foreign companies, the product from Receipt Repo will enable investors to own XRP by buying it from exchanges.

The product will help connect Decentralized Finance (DeFi) and the broader mainstream market, per the analysis. Anchorage Digital will serve as the custodian for the proposed DR offering if the regulators approve it.

The Depository Receipts are essential to introduce fresh capital in the XRP ecosystem. Among the key benefits are access to foreign markets, diversification of investments, and currency risk management, among others. The ADR, the first of its kind, also comes as a product with lower barriers to entry relating to its fee schedule.

The potential launch of the XRP DR has triggered a growing conversation within the Ripple ecosystem. Proponents believe this new model will help gain exposure to the coin and help cut across the diverse investors in the traditional financial world.

Crypto asset managers have recently intensified their efforts to list and trade XRP ETFs in the US. For a product that few asset managers have filed S-1 registration statements for months ago with uncertainty, most are now pushing for 19b-4 with certainty.

As reported earlier by CoinGape, the Cboe Exchange submitted the 19b-4 for 21Shares, Bitwise, and Canary Capital’s XRP ETF products. Besides these asset managers, Grayscale Investments, CoinShares, and WisdomTree are also pushing for an XRP ETF product.

Analysts say XRP has a high prospect of getting its ETF approved. As such, it can create new ways for investors to gain exposure to the coin.

Due to the changing U.S. regulatory landscape, most asset management firms are optimistic about the prospects of XRP ETF. Under the leadership of Acting US SEC Chairman Mark Uyeda, the agency has made a crucial pivot towards crypto.

With the launch of a crypto task force and defined roles in enforcement, investors, in general, believe an upside lies ahead for XRP, Solana, and most altcoins with an ETF proposal.