CSD BR Integrates XRP Ledger to Mirror Investment Fund Ownership Records
Brazilian market infrastructure provider CSD BR has started using the XRP Ledger to mirror ownership records for selected BTG Pactual investment funds. This move is a significant development in the adoption of blockchain technology in the financial sector, with CSD BR managing over $4 trillion in registered assets across Brazil's regulated financial market.
The company will keep its existing database as the official record for registration, custody, and settlement. The fund shares will also appear as tokens on XRPL, giving approved institutions another way to check ownership data. This system uses XRPL's Multi-Purpose Token standard, which allows CSD BR to control who holds or transfers these tokens.
The use of XRP Ledger as a public blockchain provides transparency and visibility into token movements, making it easier for market participants to verify the accuracy of ownership records. While CSD BR retains control over ownership rights, the public nature of the blockchain allows for faster checks and verification of record updates.