Brazil Integrates Public Blockchain Technology for Regulated Financial Infrastructure

Ripple and CSD BR have joined forces to bring the XRP Ledger into Brazil's massive BRL 22 trillion market. This collaboration will enable the use of public blockchain technology in regulated financial infrastructure, starting with BTG Pactual fund shares. The XRP Ledger will mirror ownership data, but not replace official records kept by CSD BR.

CSD BR has received permission from Brazil's Central Bank and CVM to implement this initiative. Tokenized shares issued by the fund will be based on the multi-purpose token standard of the XRP Ledger used by Ripple and CSD BR. This standard allows for rules regarding financial assets, restrictions for approved participants, and asset recovery processes.

Corporate and banking institutions must undergo verification and anti-money laundering processes before gaining access to the platform. CSD BR will control token issuance, participant approval, administration, and asset freezing, as well as manage clawbacks when regulatory or judicial action requires asset recovery.