Brazil’s largest central securities depository, CSD BR, is integrating the XRP Ledger as part of a new initiative to manage recordkeeping for BTG Pactual funds and potentially other financial assets. The institution oversees assets exceeding 22 trillion reais, or about $4.24 trillion, highlighting the scale of this move in the Brazilian financial system.
XRP Ledger powers asset mirroring
The project introduces a significant advancement for asset tokenization in Brazil, structured in two distinct phases. In the initial stage, CSD BR will utilize XRP Ledger’s blockchain as an additional layer for the secure registration and auditing of traditional financial asset ownership.
This development marks the first instance where a central securities depository adopts a public blockchain to replicate ownership records for securities. If the full amount of 22 trillion reais in assets eventually participates in the new system, the XRP Ledger would reflect one of the largest asset bases globally.
To achieve this, BTG Pactual fund shares will be mirrored using XRP Ledger’s Multi-Purpose Token (MPT) standard. This technology enables authorized entities to verify the accuracy and consistency of asset records transparently and nearly in real time.
Regulatory alignment and advanced auditing
The partnership brings together Ripple’s enterprise payment suite, RippleNet, and the XRP Ledger’s decentralized features within a controlled framework. The entire $4.24 trillion environment will operate on a permissioned basis, ensuring compliance with regulatory requirements.
Brazilian corporate and banking clients using this system remain subject to strict Know Your Customer (KYC) and anti-money laundering (AML) standards. Ripple’s infrastructure has demonstrated reliability in the traditional banking sector, especially after acquiring GTreasury, which processed $13 trillion in annual transactions last year.
According to information from BTG Pactual, the new model introduces automated certification processes following successful on-chain security checks and audits. Asset mirroring via the XRP Ledger will include Real Estate Receivables Certificates (CRI) and Agribusiness Receivables Certificates (CRA), supporting a broader range of financial instruments.
“Mirroring fund shares creates a concrete foundation for future developments while preserving current processes,” stated Luis Furtado, Partner at BTG Pactual. He indicated that utilizing XRP’s blockchain allows multiple sectors to securely store information and conduct real-time on-chain audits.
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