Ripple and CSD BR Tokenize Brazilian Fund Shares on XRP Ledger

Ripple and CSD BR have successfully moved Brazilian fund records onto the XRP Ledger in a live, regulated environment. The first phase of this project involved tokenizing shares of BTG Pactual funds, with BRL 22 trillion in assets currently registered across CSD BR's infrastructure.

According to Daniel Polano Spreafico, head of products and clients at CSD BR, the company chose to start with mirrored records because it was the 'safest and most responsible way' to introduce blockchain technology into critical market infrastructure. This approach allows existing investor and issuer processes to remain unchanged.

The project's goal is to provide an additional audit layer on the XRP Ledger, which can be verified by authorized institutions while maintaining the official ownership records with CSD BR. BTG Pactual's partner, Luis Furtado, stated that participating in this project allows them to test blockchain technology within regulated fund infrastructure while keeping the existing official ownership records intact.

Ripple plans to move from copied records to native assets in future phases, potentially involving Brazilian real estate and agribusiness debt securities. The companies are also exploring confidentiality tools intended to meet financial-market requirements as more activity moves onto the ledger.