Brazilian Market Operator Mirrors Ownership Records with XRP Ledger
A major development has taken place in the world of blockchain and cryptocurrency as CSD BR, a Brazilian market operator overseeing more than 22 trillion reais ($4 trillion) in registered assets, has started using the XRP Ledger to mirror ownership records for investment funds managed by BTG Pactual.
Under a new partnership between CSD BR and Ripple, selected BTG Pactual fund shares deposited with CSD BR will be tokenized and mirrored on XRPL using its Multi-Purpose Token standard. This setup preserves institutional controls, as CSD BR can restrict who holds or transfers the tokenized representations, freeze assets, and reverse transactions when required by regulators or courts.
Approved institutions will be able to compare the blockchain record with CSD BR's official database in near real time, potentially reducing the reconciliation work normally required between banks, custodians, and securities infrastructure providers. This is a significant step forward for the XRP Ledger, which has increasingly become a larger part of XRPL's institutional use case.
The partnership plans to explore issuing and trading financial assets directly on XRPL once the current infrastructure has been tested under real operating conditions. Potential future assets include Brazilian real-estate receivables and agribusiness receivables.