XRP Ledger Enters Brazil's Regulated Asset Infrastructure

Ripple has partnered with CSD BR to bring the XRP Ledger to Brazil's BRL 22 trillion asset system. The partnership aims to test whether blockchain improves transparency, traceability, automation, and efficiency within an existing regulated market framework.

The project will begin by mirroring investment fund shares from Brazilian investment bank BTG Pactual on the public XRP Ledger. CSD BR has more than BRL 22 trillion in registered assets and is authorized by the Central Bank of Brazil to register financial instruments, safeguard ownership records, and settle transactions.

Daniel Polano Spreafico, CSD BR's head of products and clients, said: 'We chose to start with record mirroring because it is the safest and most responsible way to introduce a new technology into critical market infrastructure.'