Ripple – How XRP Depository Receipts can fuel demand for the altcoin

XRP depository receipts will soon start operating in the U.S market
Receipts depository and DWAP advisors will provide the offering

With Ripple and XRP expected to see their legal woes end soon, the blockchain has seen its demand rise exponentially lately. In fact, one might argue that everyone, including institutions, individuals, and government agencies, are paving the way for the same.

XRP Depository Receipts for accredited investors

One of the latest institutions to make a significant move towards XRP after Cboe is the Digital Securities & Firm Receipts Depo (RDC). According to reports, RDC is set to launch XRP depository receipts in the United States.

According to Fox Business, the XRP depository will soon be available for purchase by accredited investors through receipts depository and DWP advisors.

This is a milestone for investors, both local and internal, who seek to own and purchase XRP without the use of usual crypto platforms.

XRP DR will offer the ownership of XRP without investors having to buy the assets directly from crypto exchanges. This approach takes the same path applied by traditional ADRs. In traditional set-up, foreign institutions acquire shares of American companies on U.S exchanges. Significantly, just like ETFs (exchange-traded funds), these DRs will make it easy for institutional investors to acquire XRP tokens.

Therefore, the latest development is a major milestone towards bridging the gap between TradFi and Decentralized Finance.

For security and safety confidence among institutional investors, Anchorage will hold XRP. In DRs context, Anchorage is a federally chartered bank that’s overseen by the U.S. Office of the Comptroller of Currency (USOCC). Equally, Anchorage secures crypto assets and will ensure XRP operates within legal frameworks.