Brazil CSD BR has begun mirroring some fund unit records to XRP Ledger

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【Brazil CSD BR is mirroring records of certain funds to XRP Ledger, managing approximately 4000000000000 USD】

The regulated operator responsible for Brazil’s financial-market registration, securities depository, and settlement systems,CSD BR has begun mirroring ownership records for certain investment funds under BTG Pactual to a public XRP Ledger。CSD BR manages more than 22000000000000 reais, equivalent to approximately 4000000000000 USD. Its existing database remains the official record for registration, custody, and settlement, and the relevant assets have not been transferred to XRP Ledger. Fund units will be synchronized in tokenized form on XRPL. This blockchain-based copy is intended to allow approved banks and institutions to verify ownership changes in real time, replacing post-hoc reconciliation and reducing slow, costly verification processes, while retaining identity checks and regulatory controls. Anyone can read token transfers on XRPL, but CSD BR still controls who is authorized to hold and transfer these tokens. The tokens use XRP Ledger’s multipurpose token standard, allowing the issuer to restrict participants and, when required by regulators or courts, freeze assets or reverse transactions. Participants must still pass identity and anti-money-laundering checks. The project starts with real fund records, distinguishing it from previous pilots that used test assets or closed networks.CSD BR was established in 2018 and authorized by Brazil’s central bank and securities regulator. After becoming familiar with the mirroring system,CSD BR and Ripple plan to test issuing assets directly on XRP Ledger and allowing approved participants to trade them, with potential underlying assets including Brazilian real-estate receivables and agricultural receivables.