Brazil's CSD BR Tests XRP Ledger for Investment Funds

Brazilian market-infrastructure operator CSD BR has begun testing XRP Ledger as a shared recordkeeping layer for investment funds. The first phase covers investment funds managed by BTG Pactual, and XRPL acts as a parallel record, reflecting selected fund-share information while CSD BR's established recordkeeping and settlement systems continue to handle regulated registration, deposit, and settlement.

The test is intended to assess whether a blockchain record can remain aligned with existing systems and support reconciliation and audit work. The pilot will not create a new retail BTG Pactual fund or grant unrestricted transferability to fund shares.

CSD BR has more than BRL 22 trillion in registered assets across its broader infrastructure, and the project uses XRPL's public blockchain infrastructure within a permissioned environment for Brazilian corporate and banking clients. Ripple says CSD BR may explore native issuance of fund shares and trading among authorized participants after the initial phase.