Ripple Brings Blockchain to Brazil's Securities Market via XRP Ledger Partnership
Ripple has made significant strides in Brazil's financial infrastructure by partnering with CSD BR, one of the country's central securities depositories. This partnership allows the XRP Ledger to be used for recording and auditing financial assets within the regulated framework.
The first step is a record-mirroring phase where BTG Pactual investment fund shares will be tracked on both the traditional system and the blockchain. CSD BR retains full control over registration, deposit, and settlement, with the XRP Ledger providing near real-time verification of records.
This development marks a major milestone for distributed ledger technology as it transitions from pilot projects to live record-keeping infrastructure within national capital markets. The plan is to eventually expand to native asset issuance and trading, targeting segments like Real Estate and Agribusiness Receivables Certificates in Brazil's fixed income market.
According to Silvio Pegado, Ripple Managing Director for Latin America, this partnership moves distributed ledger technology beyond proof-of-concept into practical use. The deal also allows BTG Pactual to apply blockchain directly to the fund market while maintaining current processes and official asset records intact.