RDC raises $7M to issue depositary receipts on digital and alternative assets

Receipts Depositary Corporation (RDC), which positions itself as the first depositary able to issue depositary receipts (DRs) on digital and alternative assets, has closed a $7 million oversubscribed funding round. The round was led by LiveOak Ventures, with participation from Hivemind Capital, Onigiri Capital, OTC Markets Group, GTS, and Redbeard Ventures.

RDC plans to use the capital to launch new DR products, expand distribution channels, invest further in capital markets infrastructure, and make strategic hires across product, operations, technology, and commercial functions. The firm provides issuer services, operational infrastructure, and market connectivity to bring DR products on a range of asset classes to U.S. investors via regulated, securities market-eligible instruments.

"This funding round is a strong validation of what we're building at RDC and the growing demand for modernized Depositary Receipt infrastructure," said Ankit Mehta, Chief Executive Officer of RDC. "With the support of LiveOak Ventures and our investor partners, we are accelerating development across our DR platform expanding our market reach, and building the team needed to support the next generation of DR products." Krishna Srinivasan, Founding Partner at LiveOak Ventures, added that "Depositary Receipts are trusted, regulated capital markets products which RDC is bringing to an entirely new universe of assets, from commodities to digital assets, that have historically been out of reach of traditional securities markets."

The company outlined three immediate priorities for the raise: accelerating development of next-generation DR products across more asset categories, deepening relationships across the DR ecosystem including banks, broker-dealers, market makers, custodians, and exchanges, and continuing to scale its team. RDC notes that it is not a bank and is not registered as a broker, dealer, or investment adviser in any jurisdiction, positioning itself instead as infrastructure for compliant, institution-grade DR instruments that could eventually include certain offerings for retail investors.

The investor mix, which includes Hivemind Capital on the crypto side and OTC Markets Group and GTS from traditional market infrastructure and liquidity, underscores ongoing efforts to bring digital and alternative assets onto established securities rails. As RDC prepares upcoming product launches, market participants will be watching how its DR structures interface with existing trading venues and how far the model can extend digital asset exposure into regulated U.S. capital markets.