• February 10, 2025

Startup Founded by Citi Alumni to Launch XRP-Backed Securities

  • Media Coverage
  • Coindesk

Receipts Depositary Corp. already offers bitcoin and ether-backed securities and is now looking to expand its product suite by adding XRP.

What to know:

  • A start-up founded by a group of former Citigroup executives is planning to launch XRP-backed securities, according to people familiar with the matter.
  • The firm already offers bitcoin and ether-backed securities.
  • The offering will be available to qualified institutional buyers only.

Receipts Depositary Corp. (RDC), a start-up founded by a group of former Citigroup executives, is planning to launch XRP-backed securities, according to people familiar with the matter.

This will give institutions access to XRP (XRP) securities through U.S. regulated market infrastructure.

Read the full article here.

Ishaan Narain

Co-Founder / COO

Prior to co-founding RDC, Ishaan served as Global Product Director for DRs at Citi, leading new product development and strategic partnerships. Ishaan holds a graduate degree in Engineering Management from Duke University and is a CFA Society New York member.

Bryant Kim

Co-Founder / CFO

Prior to co-founding RDC, Bryant served as a Senior Global Product Manager for DRs at Citi, leading strategic initiatives and commercial deal arrangements. Bryant holds undergraduate degrees in Finance and Accounting from NYU Stern School of Business.