Canada Exports XRP Ecosystem to US Market
The Canadian financial market has made another significant move in embracing XRP-based instruments. The country's infrastructure is expanding southward, with options on domestic XRP ETFs now cleared for sale in the US market. This development comes as regulators in Washington weigh the risks associated with cryptocurrency.
The key driver behind this new stage was the Canadian Derivatives Clearing Corporation (CDCC), which confirmed the registration of options on the Evolve XRP ETF and Purpose XRP ETF for sale in the United States under Form S-20. These instruments have been trading successfully on the Montreal Exchange since the beginning of the year.
Canadian banks, despite their initial reservations about cryptocurrency, are slowly adding XRP exposure to their portfolios. National Bank of Canada reported a stake worth approximately $330,000 in the regulated Bitwise XRP ETF, while Bank of Montreal (BMO) also disclosed investments in XRP products as part of its diversification strategy.
The success of this development can be attributed to a strategy launched by Canada back in 2025. At that time, the country became the first in North America to launch fully physically backed spot XRP ETFs on the Toronto Stock Exchange (TSX), tied to the transparent CME CF XRP-Dollar Reference Rate.