Brazil’s $4 Trillion CSD BR to Record Fund Ownership on XRP Ledger

CSD BR, a Brazilian financial-market infrastructure operator overseeing about $4 trillion in assets, is beginning to record fund ownership data on the XRP Ledger.

CoinDesk reported on September 30 that CSD BR has started recording ownership records for some investment funds managed by BTG Pactual, Latin America’s largest investment bank, on the public blockchain XRP Ledger.

CSD BR is a regulated financial-market infrastructure provider in Brazil that operates registration, securities depository and settlement systems. Its registered assets exceed 22 trillion reais, or about $4 trillion.

The underlying fund assets and the legal ownership ledger are not being moved to the XRP Ledger. CSD BR’s existing database will remain the official ledger for registration, custody and settlement, while a separate record representing fund units as tokens will be created on the XRP Ledger.

That will allow approved banks and companies to directly verify ownership information recorded on the XRP Ledger and compare it in real time with CSD BR’s official database.

The company also plans to test a model that goes beyond simply duplicating existing records on blockchain. The next step would involve issuing and trading financial assets directly on the XRP Ledger. Candidate assets include Brazilian real estate bonds and agriculture-related bonds.