Ripple and Cardano Take Root in Brazil's Financial and Energy Sectors

Ripple and Cardano are expanding their presence in Brazil's financial and energy sectors through strategic partnerships.

CSD BR, Brazil's financial market infrastructure operator, has partnered with Ripple to test XRP Ledger as a parallel record-keeping system for investment funds. The pilot project uses XRPL's Multi-Purpose Token standard combined with Ripple's custody infrastructure to mirror BTG Pactual fund shares on the blockchain.

This is a major industry milestone, according to Silvio Pegado, Ripple's Latin America director. CSD BR manages over $4 trillion in registered assets and plans to explore native asset issuance next.

In another development, the Cardano Foundation has unveiled two blockchain applications built with Petrobras, Brazil's state-controlled energy company. The first application tracks sustainable aviation fuel using a Book-and-Claim model, while the second traces renewable diesel across production, transport, and use.