Receipts Depositary Corporation Raises $7M to Expand Digital Asset Infrastructure

Houston-based Receipts Depositary Corporation (RDC) raised $7M in an oversubscribed funding round led by LiveOak Ventures to expand its depositary receipt infrastructure for digital and alternative assets. The round included participation from Hivemind Capital, Onigiri Capital, OTC Markets Group, GTS, and Redbeard Ventures.

Wall Street has a habit of making critical infrastructure sound painfully boring. Depositary receipts might be the perfect example. Yet these instruments have quietly moved more than $1T in capital and sit inside portfolios at over 6,500 institutions worldwide. Depositary receipts are securities that allow investors to gain exposure to underlying assets through traditional market infrastructure, making them part of the financial plumbing that remains invisible when everything works and unforgettable when it doesn't. That's why Receipts Depositary Corporation deserves attention.

This week, the Houston-based company announced a $7M oversubscribed funding round led by LiveOak Ventures, with participation from Hivemind Capital, Onigiri Capital, OTC Markets Group, GTS, and Redbeard Ventures. The announcement is more than another venture funding headline. It represents growing confidence that institutional investors want exposure to digital and alternative assets through structures they already understand and trust.

What Happened

Receipts Depositary Corporation operates at the intersection of fintech, capital markets infrastructure, and digital asset securities. The company was founded by Ankit Mehta, Co-Founder & CEO; Bryant Kim, Co-Founder & CFO; and Ishaan Narain, CFA, Co-Founder & COO. Before launching RDC, all 3 founders built their careers within Citi's depositary receipt business, developing deep expertise in how institutional capital moves through global financial markets.

The newly announced $7M funding round attracted a diverse group of investors with experience across venture capital, market structure, digital assets, and liquidity infrastructure. LiveOak Ventures led the round, while Hivemind Capital, Onigiri Capital, OTC Markets Group, GTS, and Redbeard Ventures joined as participants. The composition of the syndicate suggests investors see opportunity not only in digital assets themselves, but in the infrastructure required to connect those assets to traditional financial systems.

Why This Matters

RDC's strategy is deceptively simple. Rather than asking institutions to adopt entirely new operating models, the company applies the well-established depositary receipt framework to digital and alternative assets. By adapting emerging asset classes to fit within existing capital markets infrastructure, RDC reduces many of the operational, custody, and compliance challenges that have historically slowed institutional adoption.

For large financial institutions, the issue has rarely been a lack of interest in digital assets. The challenge has been integrating those assets into existing risk management systems, settlement processes, and regulatory frameworks. RDC's approach addresses that friction directly by creating pathways that feel familiar to investors already operating within traditional financial markets.

Market Context

The investor roster offers insight into how the market is evolving. LiveOak Ventures brings venture-building experience. Hivemind Capital focuses on opportunities at the intersection of traditional finance and digital assets. OTC Markets Group contributes expertise in market access, while GTS brings deep liquidity and market-making capabilities. Onigiri Capital's focus on blockchain infrastructure and tokenization complements Redbeard Ventures' experience backing emerging technology companies.

Taken together, these investors reflect a growing belief that infrastructure may become one of the most valuable layers of the digital asset ecosystem. Financial markets have repeatedly demonstrated that broad adoption often follows improvements in accessibility, distribution, and operational simplicity rather than breakthroughs in underlying technology alone.

What This Signals

The company's progression reveals a deliberate strategy. Bitcoin DR. XRP DR. Expansion into Ethereum and Solana. A partnership with Menas Global. Participation in the Canton Network. Ongoing engagement with regulators and discussions surrounding digital asset frameworks. Each step expands the company's footprint while reinforcing its position within institutional finance.

Infrastructure companies rarely attract the same level of attention as consumer-facing applications or highly visible crypto projects. Yet market history consistently shows that foundational infrastructure often captures outsized value as ecosystems mature. RDC appears focused on building that foundation rather than chasing short-term market enthusiasm.

The Bigger Industry Shift

The $7M raise validates a broader market thesis. Capital markets already possess trusted systems for ownership, custody, settlement, and distribution. RDC's central argument is that digital and alternative assets do not necessarily require entirely new financial rails to achieve institutional adoption. Instead, they may benefit from bridges that connect emerging asset classes with infrastructure institutions already trust.

As demand grows for regulated exposure to digital assets, companies focused on digital asset infrastructure, institutional crypto adoption, and tokenization markets are becoming increasingly important. Receipts Depositary Corporation is positioning itself where traditional finance and digital assets converge, while investors are signaling that the market opportunity at that intersection continues to expand.