Ripple and CSD BR Partner to Mirror Fund Ownership on XRP Ledger

Ripple has partnered with Brazilian market operator CSD BR to mirror BTG Pactual fund ownership records on the public XRP Ledger.

CSD BR oversees approximately $4 trillion in registered assets and will use the public blockchain as a second record of who owns shares in selected BTG Pactual investment funds. The partnership aims to test native issuance and trading of real estate and agribusiness receivables, which can settle in seconds compared to ordinary securities trades.

The XRP Ledger is used for mirroring fund ownership records under the Multi-Purpose Token standard. Approved banks and companies can check this copy against CSD BR's database in near real-time, instead of reconciling their own books after the fact.

Ripple's managing director for Latin America, Silvio Pegado, called the move a major milestone for the industry. The partners plan to test native issuance once the mirroring phase is validated.