Receipts Depositary Corp. (RDC), a startup founded by a group of former Citigroup executives, is planning to launch XRP-backed securities that will allow institutions to access XRP securities through regulated U.S. market infrastructure, Golden Finance reported. . The company will provide depositary receipts similar to American Depositary Receipts (ADRs), representing foreign shares on the U.S. Stock Exchange. The product will be sold to qualified institutional buyers only through transactions exempt from registration under the Securities Act of 1933. Therefore, it does not require approval from the Securities and Exchange Commission (SEC). These securities will be cleared by a depositary trust (DTC), similar to Bitcoin (BTC) and Ethereum (ETH)-backed securities already provided by RDC.