- CSD BR will retain official securities records while the XRP Ledger provides an additional layer for auditing and transparency.
- The first phase tokenizes BTG Pactual fund shares using the XRP Ledger’s Multi-Purpose Token standard.
- The partners plan to explore tokenized issuance and trading for additional Brazilian financial assets after validation.
Ripple and Brazilian financial infrastructure provider CSD BR are bringing securities ownership records onto the XRP Ledger, beginning with BTG Pactual fund shares. The initiative introduces public blockchain technology into Brazil’s regulated capital markets, allowing authorized participants to query and audit records. CSD BR will retain the official records and continue managing registration, deposits and settlement.
CSD BR Adds Blockchain to Securities Records
CSD BR announced the partnership’s first phase, which uses the XRP Ledger as an additional layer for recording and auditing financial assets. The company operates as a registrar, central securities depository and settlement system under regulatory authorization.
CSD BR manages more than BRL 22 trillion in registered assets and processes millions of transactions within minutes. The project will assess blockchain’s transparency, traceability, automation and efficiency through live transactions.
The initiative operates within Brazil’s existing regulatory framework. It does not change participants’ legal responsibilities or require additional regulatory approvals.
Ripple Custody Supports Tokenized Fund Shares
The first phase will tokenize BTG Pactual investment fund shares deposited at CSD BR using the XRP Ledger’s Multi-Purpose Token standard. Ripple Custody will support the process, while the blockchain provides a complementary record for authorized participants.
Access will remain restricted to corporate and banking clients in Brazil that meet Know Your Customer and anti-money laundering requirements. CSD BR will retain control over issuance, administration and participant authorization.
The infrastructure will also preserve the company’s ability to freeze individual assets or reverse transactions when required by judicial or regulatory orders. CSD BR’s Head of Products and Clients, Daniel Polano Spreafico, said the initial phase keeps existing processes unchanged while testing the technology under live conditions.
Partnership Eyes Wider Asset Tokenization
Ripple Latin America Managing Director Silvio Pegado described the project as a move from pilot testing to live recordkeeping infrastructure. BTG Pactual Partner Luis Furtado said the initiative provides a foundation for further blockchain applications in fund markets.
Following validation, the partners plan to explore native asset issuance and trading among authorized participants. Potential assets include Real Estate Receivables Certificates and Agribusiness Receivables Certificates.
The next stages may also introduce advanced confidentiality mechanisms for financial-market privacy requirements. The model could eventually accommodate additional asset classes, participants and international markets.
