TLDR
- CSD BR has started mirroring selected BTG Pactual fund records on XRP Ledger.
- CSD BR oversees more than 22 trillion reais, about $4 trillion, in registered assets.
- Its existing regulated database remains the official record for custody and settlement.
- Fund shares will use XRPL’s Multi-Purpose Token standard with controlled access.
- CSD BR plans to test direct blockchain issuance and trading of financial assets later.
Brazilian market infrastructure provider CSD BR has started using the XRP Ledger to mirror ownership records for selected BTG Pactual investment funds. CSD BR manages more than 22 trillion reais, about $4 trillion, in registered assets across Brazil’s regulated financial market.
The company will keep its existing database as the official record for registration, custody, and settlement. The fund shares will also appear as tokens on XRPL, giving approved institutions another way to check ownership data. The move follows broader work around tokenized U.S. stock trading.
CSD BR Keeps Official Control
CSD BR will use XRP Ledger as a second record rather than replacing its current systems. Banks and approved companies can compare the blockchain copy with CSD BR’s official database at any time, which can reduce delays during record checks.
The tokens will use XRPL’s Multi-Purpose Token standard. CSD BR can control who holds or transfers them, freeze assets, and reverse transactions when regulators or courts require action. Participants must still complete identity and anti-money-laundering checks.
Public Blockchain Supports Faster Checks
Public access lets market participants view token movements while CSD BR controls ownership rights. Each update remains visible on XRP Ledger, including reversals. This structure can make differences between the blockchain copy and the official database easier to identify.
The project also arrives as regulated firms test more blockchain-based financial records. Recent U.S. developments include updated guidance on tokenized assets and blockchain recordkeeping, which addresses how registered firms may use tokenized assets under certain conditions.
Direct Asset Issuance May Follow
CSD BR and Ripple plan to test direct asset issuance after the mirroring system operates successfully. Approved participants could later trade eligible assets on XRP Ledger, while the companies assess settlement, controls, and operational requirements in a live regulated setting.
The wider tokenization market is also moving toward direct links between traditional assets and blockchain records. One recent example involves institutional in-kind stock tokenization on Ethereum and BNB Chain, where approved firms can mint tokens using real shares.
CSD BR may later test Brazilian real-estate receivables and agribusiness receivables on the network. Both products form established parts of Brazil’s fixed-income market. The planned tests would extend the current project from record mirroring toward blockchain-based issuance and trading during later market testing phases.
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