Brazil’s regulated capital market infrastructure is advancing toward blockchain integration as CSD BR starts utilizing the XRP Ledger to mirror records of securities ownership.
Ripple has revealed a collaboration with CSD BR aimed at bringing regulated financial assets on-chain, beginning with investment fund shares from BTG Pactual.
This project integrates the XRP Ledger into Brazil’s established securities framework, while ensuring CSD BR maintains its systems as the official system of record. The collaboration enables CSD BR to trial blockchain tech via live transactions without altering established registration, deposit, and settlement workflows.
Overseeing over BRL 22 trillion in registered assets, CSD BR has the capacity to handle millions of transactions in mere minutes. Through this alliance, the entity will assess how distributed ledger technology enhances transparency, traceability, automation, and operational performance.
A licensed central securities depository is recording securities ownership on a public blockchain for the first time — on the XRP Ledger.
CSD BR is partnering with Ripple to bring Brazil's regulated capital markets onchain, starting with BTG Pactual fund shares, secured by…
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XRP Ledger Will Mirror BTG Pactual Fund Shares
In the initial stage, CSD BR plans to tokenize BTG Pactual investment fund shares held within its framework, reflecting those assets onto the XRP Ledger through the Multi-Purpose Token standard.
The XRP Ledger supplies an extra layer for auditing and querying financial data. Approved participants can leverage the blockchain to check record consistency transparently and close to real-time. Meanwhile, CSD BR preserves its role as the official record-keeper, managing asset registration, deposits, and settlements.
Alongside the XRP Ledger, Ripple is supplying custody infrastructure to back the tokenized assets within a regulated setting. The system functions on a permissioned network for Brazilian corporate and banking clients who meet anti-money laundering and Know Your Customer guidelines.
Governance duties remain firmly with CSD BR. The company retains the power to authorize users, freeze specific assets when needed, and roll back transactions mandated by regulatory or legal directives.
Partnership Targets Further Blockchain Expansion
According to CSD BR, the opening record-mirroring phase lets the company test blockchain capabilities in authentic operating environments without disrupting standard procedures for issuers, investors, and market participants.
Silvio Pegado, Ripple’s Managing Director for Latin America, characterized the shift from experimental blockchain pilots to live record maintenance inside a national capital market as a significant industry milestone. He noted that the initiative highlights how traditional financial institutions can adopt distributed ledger technology securely inside a regulated structure.
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Following the successful validation of the mirroring phase, the alliance may widen its blockchain scope to cover native asset issuance and peer trading among authorized participants. Both organizations pointed to Agribusiness Receivables Certificates and Real Estate Receivables Certificates as candidates for upcoming stages.
Furthermore, the infrastructure will investigate sophisticated privacy tools to meet financial-market confidentiality demands. Both Ripple and CSD BR designed the architecture to accommodate extra asset classes, new participants, and potentially cross-border markets.
BTG Pactual joins the rollout of this blockchain application to invest in fund shares while keeping CSD BR’s official ledgers and standard market operations intact.