Key Takeaways
- • Ripple and Brazil's CSD BR (central securities depository) have deployed BTG Pactual investment fund shares onto the XRP Ledger in a live regulated environment, marking the first time a licensed depository is mirroring ownership records on a public blockchain.
- • CSD BR manages BRL 22 trillion in registered assets; the partnership uses the XRP Ledger as an independent audit and verification layer while CSD BR retains official ownership, registration, deposit, and settlement authority.
- • Fund shares are tokenized using XRPL's Multi-Purpose Token (MPT) standard, enabling authorized institutions to verify mirrored records in near-real time while full KYC and anti-money laundering controls remain enforced.
- • The arrangement operates within CSD BR's existing market infrastructure and processes; participants use the same operational workflows during this initial phase, with no disruption to current workflows.
- • Future phases could expand tokenization to Brazilian real estate and agribusiness debt securities, positioning the XRP Ledger as infrastructure for regulated financial asset recording in Latin America's largest economy.
Summary
Ripple and CSD BR announced on September 29-30, 2026, that they have begun mirroring Brazilian investment fund ownership records onto the XRP Ledger in a live production environment. The initiative launched with BTG Pactual investment fund shares, representing a significant institutional adoption milestone: this is the first instance of a licensed central securities depository using a public blockchain to maintain parallel ownership records for regulated financial assets.
CSD BR, which oversees BRL 22 trillion in registered assets, maintains its position as the official and legally responsible repository for all ownership, registration, deposit, and settlement records. The XRP Ledger functions as a secondary, independently verifiable audit layer. This dual-record architecture preserves regulatory control while introducing blockchain transparency: all changes on the public XRP Ledger are permanently recorded, and any divergence between CSD BR's primary records and the blockchain copy would be immediately visible to authorized participants.
Fund shares are tokenized using the XRP Ledger's Multi-Purpose Token (MPT) standard, enabling authorized Brazilian financial institutions to verify mirrored records close to real time. The system maintains full compliance with anti-money laundering and know-your-customer (KYC) requirements, with permissioned access limited to eligible corporate and banking participants. Critically, this first phase operates within CSD BR's existing market infrastructure, meaning investors, issuers, and other market participants continue using established operational processes without modification.
The partnership represents a controlled, regulated deployment of blockchain infrastructure rather than a pilot or proof of concept. By embedding the XRP Ledger into live securities operations, Ripple and CSD BR have demonstrated viability of public blockchain use in institutional asset custody and verification. Future expansion phases are designed to bring Brazilian real estate records and agribusiness debt securities onto the same blockchain infrastructure, potentially positioning the XRP Ledger as a core audit and settlement layer for multiple asset classes across Latin America's largest economy.
CSD BR, which oversees BRL 22 trillion in registered assets, maintains its position as the official and legally responsible repository for all ownership, registration, deposit, and settlement records. The XRP Ledger functions as a secondary, independently verifiable audit layer. This dual-record architecture preserves regulatory control while introducing blockchain transparency: all changes on the public XRP Ledger are permanently recorded, and any divergence between CSD BR's primary records and the blockchain copy would be immediately visible to authorized participants.
Fund shares are tokenized using the XRP Ledger's Multi-Purpose Token (MPT) standard, enabling authorized Brazilian financial institutions to verify mirrored records close to real time. The system maintains full compliance with anti-money laundering and know-your-customer (KYC) requirements, with permissioned access limited to eligible corporate and banking participants. Critically, this first phase operates within CSD BR's existing market infrastructure, meaning investors, issuers, and other market participants continue using established operational processes without modification.
The partnership represents a controlled, regulated deployment of blockchain infrastructure rather than a pilot or proof of concept. By embedding the XRP Ledger into live securities operations, Ripple and CSD BR have demonstrated viability of public blockchain use in institutional asset custody and verification. Future expansion phases are designed to bring Brazilian real estate records and agribusiness debt securities onto the same blockchain infrastructure, potentially positioning the XRP Ledger as a core audit and settlement layer for multiple asset classes across Latin America's largest economy.
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