Ripple Brings XRP Ledger to Brazil’s BRL 22 Trillion Asset System

XRP Ledger Enters Brazil’s Regulated Asset Infrastructure

Investment fund ownership records in Brazil will gain a blockchain layer for verification under a partnership announced Sept. 29 by CSD BR, an operator that registers financial instruments, safeguards ownership records, and settles transactions, and Ripple. The initial phase covers investment fund shares from Brazilian investment bank BTG Pactual. Ripple provides blockchain infrastructure for financial institutions, while the XRP Ledger (XRPL) is the public blockchain supporting the initiative.

CSD BR has more than BRL 22 trillion in registered assets, according to the companies. The fund share mirroring project begins with assets deposited at the operator, whose systems will remain the official ownership record. The announcement describes it as the first use of a public blockchain by a central securities depository to mirror securities ownership records.

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.”

Current processes for investors, issuers, and other participants will continue during this phase.

The operator is authorized by the Central Bank of Brazil to register financial instruments, safeguard ownership records, and settle transactions by completing transfers between parties. Brazil’s securities regulator, the Brazilian Securities and Exchange Commission (CVM), also authorizes its registration and depository services. According to the announcement, its infrastructure can process millions of transactions within minutes.

How Fund Tokens Preserve Institutional Controls

BTG Pactual fund shares will be tokenized using the XRP Ledger’s Multi-Purpose Token standard, which provides configurable rules for financial assets. Multi-Purpose Tokens can restrict holdings to approved users and support freezing or recovering tokens from holders. Ripple’s custody infrastructure, which secures and manages digital holdings, will combine with these native blockchain capabilities.

Participation will be restricted to corporate and banking institutions in Brazil that undergo identity verification and anti-money laundering procedures. CSD BR will control issuance and administration, including participant authorization and the ability to freeze individual assets. It will also retain clawback functionality to recover tokens when a regulatory or judicial order requires it.

Representing conventional financial claims through blockchain tokens is the basis of tokenized real-world assets. Fund interests, bonds, and other instruments can carry rights defined by their governing legal documents. The companies describe…