XRP Ledger Tapped by Brazil's $4 Trillion Securities Market

Brazil's $4 trillion securities market is set to integrate the XRP Ledger, thanks to a partnership between Ripple and Brazilian financial-market infrastructure provider CSD BR.

The integration will initially use the XRP Ledger as an additional record and audit layer for investment fund shares held at CSD BR, with BTG Pactual's fund shares being the first assets involved.

Ripple executive Luke Judges noted that this is the first time the XRP Ledger has been publicly integrated into core financial market infrastructure of this scale, calling it a significant milestone for the distributed-ledger industry.

The XRP Ledger was chosen due to its purpose-built design for financial applications and its ability to integrate with existing regulated infrastructure, according to Judges.