CSD BR, Brazil’s central securities depository and financial market infrastructure provider, has begun using the XRP Ledger to mirror selected investment fund records managed by BTG Pactual, Ripple announced on September 29.
The first phase is deliberately limited. XRPL acts as a parallel record for selected fund-share information, while CSD BR’s existing systems continue to handle regulated registration, deposit and settlement. CSD BR reports more than 22 trillion reais, roughly $4 trillion, in registered assets, but the companies have not disclosed the value or number of BTG Pactual fund shares included in the pilot.
Approved Brazilian corporate and banking clients subject to KYC and AML requirements can compare the blockchain copy with CSD BR’s official database. The fund shares use XRPL’s Multi-Purpose Token standard inside a permissioned environment. CSD BR retains authority over participant approval and asset administration, including the ability to freeze assets or claw them back when ordered by regulators or courts.
Ripple says CSD BR may explore native issuance of fund shares and trading among authorized participants after the initial phase, potentially extending to Brazilian fixed-income instruments such as CRI and CRA. For now, no retail XRPL fund product or open trading market has been announced, and the pilot does not identify XRP as a settlement asset or disclose transaction-volume commitments.
