Brazil's CSD BR Tests Public Blockchain for Regulated Fund Administration
Brazil's financial-market infrastructure operator, CSD BR, has begun mirroring ownership records for selected investment funds onto the XRP Ledger, marking a significant test of a public blockchain inside a regulated fund administration workflow.
CSD BR oversees more than $4.2 trillion in registered assets and is creating a parallel blockchain record of fund shares managed by BTG Pactual, Latin America's largest investment bank. The initiative was announced by Ripple on September 29.
The existing database remains the official legal record for registration, custody, and settlement. No actual fund assets are moving onto the blockchain. Instead, shares deposited with CSD BR are represented as tokens on XRP Ledger, allowing approved banks and corporate clients to read ownership information directly and check it against the official database in real time.
The pilot begins with live fund records rather than test assets, which puts it a step beyond the blockchain experiments banks have run for years using closed networks or simulated data. Real ownership information is being copied onto a public ledger, even though CSD BR's existing system retains final legal authority.