Ripple and CSD BR have announced a partnership to bring the XRP Ledger ($XRP) into Brazil's regulated financial market infrastructure, in what the companies describe as a first for the centra
Ripple and CSD BR have announced a partnership to bring the XRP Ledger ($XRP) into Brazil's regulated financial market infrastructure, in what the companies describe as a first for the central securities depository industry globally.
In the first phase, CSD BR will begin using the XRP Ledger as an additional layer for recording and auditing financial assets, starting with BTG Pactual investment fund shares.For the first time, a central securities depository for financial assets and securities will use a public blockchain to mirror securities ownership records, while CSD BR's systems remain the official source of record for registration, deposit and settlement of the assets.
BTG Pactual investment fund shares deposited at CSD BR will be tokenized and mirrored on the XRP Ledger using the Multi-Purpose Token (MPT) standard.The blockchain will act as a complementary layer for querying and auditing, allowing authorized participants to validate the consistency of the records transparently and in near real time. Participation is restricted: only corporate and banking institutions in Brazil that undergo identity verification and meet anti-money laundering requirements will be admitted to the network.
With more than BRL 22 trillion in registered assets, CSD BR operates a highly scalable infrastructure capable of processing millions of transactions in a matter of minutes. The depository is one of only two central securities depositories approved by Brazil's securities regulator, the CVM.
The initiative marks a new step in the evolution of asset tokenization in Brazil, combining the robustness of CSD BR's regulated infrastructure with the decentralized blockchain technology of the XRP Ledger.The partnership will make it possible to assess, in a regulated environment and with live transactions, the gains in transparency, traceability, automation and efficiency delivered by blockchain technology.
According to Ripple executive Luke Judges, this initiative represents the first public integration of the XRP Ledger with a country's core financial market infrastructure at such a scale. Looking ahead, the project could expand beyond fund shares into native issuance and trading of additional regulated securities, including Brazil's broader fixed-income market.
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."
Sources:Ripple Official Press Release: CSD BR and Ripple Use the XRP Ledger Blockchain to Expand Brazil's Financial Market InfrastructureCrypto Briefing: Brazil's CSD BR partners with Ripple to mirror securities records on XRP LedgerBitcoin.com News: Ripple Brings XRP Ledger to Brazil's BRL 22 Trillion Asset System
