Brazilian depository CSD BR taps XRP Ledger to mirror investment fund records

Sources · 6 sources

1. CR

   CryptoSlateArticle · Oct 1

   Ripple quietly made Brazil the center of its XRPL tokenization push Ripple's Brazilian foothold spans cross-border payments and securities records in a country Chainalysis ranked first for grassroots crypto adoption. Ripple and CSD BR, a regulated financial market infrastructure operator, announced a first phase on Sept. 29 to mirror ownership records for BTG Pactual investment fund shares on the XRP Ledger (XRPL). CSD BR's systems will remain the official record for registration, deposit, and settlement. The announcement follows a Sept. 28 interview in which RippleX executive Markus Infanger told Estadão's E-Investidor that about $2.7 billion of the $6.7 billion in tokenized real-world financial assets he counted on XRPL was in Brazil. That puts roughly 40% of the reported asset value in one country, although the measure reflects assets rather than payment activity. Together, the developments show how Ripple's years of expansion have connected it to several parts of Brazil's financial system. The opportunity spans institutions moving money, platforms distributing stablecoins, and firms managing investment assets, with different measures of success for each. Ripple was building there before the ranking Ripple opened its Brazilian office in 2019 and announced XRP-enabled payments with Travelex Bank in August 2022. Those relationships predate the new adoption ranking by years. In October 2024, its Mercado Bitcoin payments partnership initially targeted internal treasury transfers between Brazil and Portugal. The release described corporate and retail international payments as future plans, rather than services already available to those customers. By March 2026, Ripple was expanding its Brazilian institutional offering across payments, custody, prime brokerage and treasury management. It named Banco Genial, Braza Bank and Nomad among payments users, while Mercado Bitcoin, Foxbit and Ripio were among platforms listing or supporting its dollar stablecoin, RLUSD. Alongside that expansion, Ripple announced plans to seek a Brazilian virtual asset service provider license. Ripple’s Brazil expansion spans payments, custody and tokenization, while CSD BR retains the official securities record. The same companies can connect several parts of the strategy. Mercado Bitcoin, for example, announced plans in July 2025 to tokenize more than $200 million in permissioned real-world assets on XRPL. The planned issuance adds an asset relationship to its payments and stablecoin connections. Related Reading Brazil’s $252 billion crypto market gets $10,000 self-custody reporting rule Chainalysis's 2026 adoption index puts Brazil first overall, second for cross-border flows, third for service flows and domestic peer-to-peer activity, and fourth for balances. Its revised methodology rewards broad performance across those four measures. First place does not mean Brazil has the world's largest crypto market by raw dollar volume, and the methodological change limits comparisons with earlier rankings. Chainalysis estimated $252.5 billion in Brazilian crypto activity between July 1, 2025, and June 30, 2026. Its Latin America report also found that Brazil's crypto economy contracted 1.6% during that period, so adoption leadership coexisted with a slowdown. For Ripple , the more useful connection is what businesses do with crypto. The report describes Brazilian companies using stablecoins for liquidity management and cross-border transfers, purposes that overlap with its institutional offering. Brazil's Oct. 1 restrictions will bar virtual assets from settling aggregated eFX flows between providers and foreign counterparties, while individual international virtual-asset transfers remain permitted. From represented assets to financial infrastructure Infanger's reported XRPL asset total gives the Brazilian footprint a reported scale. The $2.7 billion figure describes tokenized real-world asset value represented on XRPL. In October 2025, Ripple said VERT's credit platform recorded lifecycle events, documentation and payments on XRPL and its EVM sidechain. Its pension-receivables fund then held more than R$200 million in net assets. The CSD BR announcement extends that approach into securities infrastructure. Its first phase mirrors BTG Pactual fund-share ownership records using XRPL tokens and Ripple custody, with access restricted to authorized Brazilian corporate and banking participants subject to identity and anti-money-laundering checks. Native issuance and trading are envisaged for later phases after mirroring is validated. For now, the project gives Ripple a place inside existing financial processes without making the public blockchain the authoritative securities register. That makes Brazil a practical test of Ripple's wider institutional strategy. Its announcements show relationships across payments, stablecoins, custody and investment records, but provide no comparable aggregate Brazil-only payment volume, RLUSD circulation or active institutional usage. Sustained transactions and broader use of the CSD BR system would show how far those connections develop beyond the reported asset values. The post Ripple quietly made Brazil the center of its XRPL tokenization push appeared first on CryptoSlate .

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2. CR

   CryptoSlate@CryptoSlatePost on X · Oct 1

   Brazil holds about $2.7B of XRPL’s reported tokenized assets, a Ripple executive says. A CSD BR project will mirror BTG Pactual fund-share records on XRPL. CSD BR remains the official register; native issuance and trading are planned for later. https://t.co/znYfxEMq6D

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3. C®

   CryptoSavingExpert ®@CryptoSavingExpPost on X · Sep 30

   Brazil is putting the XRP Ledger directly into its regulated financial infrastructure. CSD BR, a Brazilian financial-market infrastructure operator with more than R$22 trillion in registered assets, is using the XRP Ledger to mirror ownership records for selected investment funds, starting with funds from BTG Pactual. The important part is that this isn’t replacing Brazil’s existing financial system. CSD BR will remain the official record for registration, custody and settlement, while the XRP Ledger provides an additional layer for recording, auditing and verifying ownership changes in real time. The initial rollout involves real fund records rather than a simple test with hypothetical assets. And the plans could go much further. If the first phase is successful, CSD BR and Ripple intend to explore issuing and trading financial assets directly on the XRP Ledger, including potential applications involving Brazilian real-estate and agribusiness receivables. This is a significant example of blockchain moving beyond experiments and being integrated into regulated financial-market infrastructure. Traditional finance is increasingly finding ways to use public blockchains without removing the regulatory systems that already exist.

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4. TB

   The Block@TheBlockCoPost on X · Sep 30

   THE BLOCK: Brazilian depository CSD BR has partnered with Ripple to tokenize and mirror BTG Pactual investment fund shares on the XRP Ledger. Later phases could include issuing and trading assets such as real estate and agribusiness receivables on the same network. https://t.co/K92npgB10f

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5. BS

   BSCN@BSCNewsPost on X · Sep 30

   XRP Ledger Enters Brazil’s $4T Financial Market CSD BR and Ripple are bringing the XRP Ledger ripple:native into Brazil’s regulated investment fund infrastructure. The partnership will initially mirror ownership records for investment fund shares held through BTG Pactual. CSD BR manages more than BRL 22 trillion in registered assets across Brazil’s financial markets. The blockchain records will complement existing systems, while CSD BR remains the official ownership record. Only verified corporate and banking institutions will participate under identity and anti money laundering requirements. The project could later expand into native issuance and trading of additional regulated securities.

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6. UN

   UnchainedArticle · Sep 30

   Brazilian Depository With $4.2 Trillion in Assets Taps XRP Ledger to Mirror Fund Shares CSD BR , a Brazilian central securities depository with more than 22 trillion reais (about $4.2 trillion ) in registered assets, will begin keeping a copy of fund ownership records on the public XRP Ledger , the company and Ripple announced on Tuesday. The companies said it is the first time a central securities depository will use a public blockchain to mirror who owns which securities. Silvio Pegado , Ripple’s managing director for Latin America, called the shift from “pilots and proofs of concept to a live record-keeping infrastructure in a national capital market” a milestone for the industry. The first phase covers shares in BTG Pactual investment funds held at CSD BR. Those shares will be tokenized with the XRP Ledger’s Multi-Purpose Token (MPT) standard, and authorized participants can check the onchain copy against the official records “in near real time,” according to the release. CSD BR’s own systems stay the official record for registration, deposit and settlement. Get Unchained’s crypto news in your inbox with the free Unchained Daily newsletter . Who Controls the Tokens Only corporate and banking clients in Brazil that pass know-your-customer and anti-money laundering checks can use the permissioned setup. CSD BR keeps control over issuing and administering the tokens, including approving participants, freezing individual assets and reversing transactions when a regulator or court orders it. Ripple provides the custody infrastructure. The companies said the model needs no new regulatory approvals under Brazil’s current rules. “We chose to start with record mirroring because it is the safest and most responsible way to introduce a new technology into critical market infrastructure,” Daniel Polano Spreafico , CSD BR’s head of products and clients, said in the release. Receivables Could Come Next After validating the mirroring phase, the partners plan to expand gradually into native issuance and trading among authorized participants. Candidates include two kinds of Brazilian fixed income securities: certificates backed by real estate receivables (CRI) and by agribusiness receivables (CRA). “Mirroring fund shares creates a concrete foundation for future developments while preserving current processes and the official record of the assets,” said Luis Furtado , the BTG Pactual partner responsible for market infrastructure, in the release. In May, Ondo Finance, JPMorgan’s Kinexys, Mastercard and Ripple completed a cross-border redemption of a tokenized U.S. Treasury fund on the XRP Ledger. Related Listen: How the Bitget Hack Reopened Crypto’s Fight Over Neutral Infrastructure The post Brazilian Depository With $4.2 Trillion in Assets Taps XRP Ledger to Mirror Fund Shares appeared first on Unchained .

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