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$4 Trillion Brazilian Market Goes On-Chain With Ripple and XRP

Guavy AI Editorial Team
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XRP BTG
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Ripple and Brazil's central securities depository, CSD BR, are joining forces to bring the country's $4.24 trillion regulated capital markets on-chain.

The partnership will allow CSD BR to use the XRP Ledger for bookkeeping of BTG Pactual funds, among other things.

The first phase of the initiative involves using XRP's native chain as an extra layer for recording and auditing financial assets. This is a new step in the evolution of asset tokenization in Brazil.

Luis Furtado, Partner at BTG Pactual, said that mirroring fund shares creates a concrete foundation for future developments while preserving current processes.

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