Ripple Brings XRP Ledger into Regulated Brazilian Markets

Ripple has partnered with CSD BR to bring the XRP Ledger (XRPL) into Brazil's regulated capital markets. The partnership aims to test the technology under real operating conditions, starting with a live fund-record mirroring project. CSD BR is using XRPL to mirror ownership records for selected BTG Pactual investment funds.

The first phase of the project will be restricted to approved corporate and banking clients who have already passed KYC and anti-money laundering checks. The system is designed to provide a parallel version of ownership records that authorised institutions can check against CSD BR's existing systems.

CSD BR retains control over the assets and participants, allowing it to freeze or reverse transactions when required by regulators or courts. The partnership plans to extend the model to other products and institutions in Brazil and potentially expand beyond the country's borders.

Ripple and CSD BR already have a broader second phase in mind, which could involve issuing assets directly on XRPL. This would allow for direct onchain asset issuance, trading by authorised participants, and expansion of regulated assets beyond Brazil.