Ripple's Brazil Deal May Spark XRP Price Surge to $180
Ripple has announced a significant deal with BTG Pactual, a $22 trillion securities giant in Brazil. The partnership will put BTG Pactual's fund-share records on the XRP Ledger, giving Ripple a role in live, regulated financial infrastructure.
The agreement was made with CSD BR, a Brazilian securities depository that manages assets worth over R$22 trillion. In the first phase of the deal, BTG Pactual fund shares deposited at CSD BR will be represented using XRPL's Multi-Purpose Token standard on the XRP Ledger.
This means that authorized participants can check and audit ownership records without needing to access CSD BR's existing systems. However, it is worth noting that CSD BR will still control issuance and administration of these tokens, including the ability to freeze assets or reverse transactions when necessary.