Brazil market operator CSD BR starts mirroring fund records on XRP Ledger
CIE News ·
Brazilian market operator CSD BR has begun mirroring live BTG Pactual investment fund records on the XRP Ledger to streamline reconciliation, CoinDesk reported.
Brazilian financial-market operator CSD BR has begun placing records for investment funds managed by BTG Pactual onto the XRP Ledger, CoinDesk reported. The operator oversees more than 22 trillion reais, or roughly $4 trillion, in registered assets. While CSD BR's existing database remains the official legal record for custody and settlement, the public blockchain functions as a secondary ledger for real-time verification.
Fund shares deposited with CSD BR are represented on the network using the XRP Ledger Multi-Purpose Token standard. This framework allows CSD BR to maintain permissioning controls, freeze assets, or reverse transactions if requested by regulators, while approved banks can inspect the ledger directly to eliminate manual reconciliation delays.
CSD BR, which is authorized by Brazil's central bank and securities regulator, plans to evaluate direct asset issuance and trading on the network once the mirroring system is established. Potential future assets for direct onchain issuance include Brazilian real-estate and agribusiness receivables, according to CoinDesk.