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Key Takeaways:
- CSD BR is leveraging the XRP Ledger to reflect real-time fund holdings.
- Over BRL 22 trillion in registered assets is managed by the infrastructure.
- Future stages could include natively issuing and trading tokenized securities.
Ripple and CSD BR are focusing on ushering blockchain tokenization into the financial market by making financial-market records available in real time.
The first phase involves investment funds for the BTG Pactual shares and the existing systems in CSD BR are the official platform for registration, deposit, settlement.
CSD BR Adds XRP Ledger to BRL 22T Infrastructure
The XRP Ledger will be an extra layer for a financial-market infrastructure provider in Brazil, CSD BR, to register and audit financial assets. The company has an asset balance of over BRL 22 trillion, and can carry out millions of transactions in minutes.
Selected BTG Pactual fund shares staked with CSD BR will be mapped in XRPL via the Multi-Purpose Token (MPT) standard.
The blockchain record will not be considered a replacement for the CSD BR’s official database. Rather, authorized participants will be able to check the accuracy of the blockchain data against the current system and verify record consistency in real time.
Read More: Ripple Says $XRP, RLUSD Could Turn 24/7 Crypto Into a CFO Treasury Tool
Fund Shares Will Be Mirrored, Not Replaced
The project will help them to keep the existing laws unchanged and conduct trials in the market environment.
CSD BR will keep full control over asset issuance and administration. It will also maintain systems for qualification and freezing assets and executing asset reversals as needed in response to regulators or courts.
In Brazil access will be permissioned and restricted to a group of qualified corporate and banking customers with Know Your Customer and anti-money laundering compliance criteria.
Ripple’s custody infrastructure will work alongside XRPL’s native tokenization features to support the system.
Read More: Ripple Shifts to Digital Assets Custody
Ripple and CSD BR Move Beyond Blockchain Pilots
The project will be the first time blockchain is used in active financial systems, rather than in proofs of concept testing. To test transparency, traceability and automation, without impacting investors or issuers’ processes, CSD BR said it selected the record-mirroring model.
The project also complies with the current regulatory framework in Brazil and it will not require any new licenses for its first phase. The deployment for Ripple elevates the value proposition of XRPL beyond only crypto-native transactions into a place of regulatory infrastructure.
Tokenized CRI and CRA Assets Could Come Next
The first stage will be a success with CSD BR and Ripple will delve into native issuance and trading directly on the XRP Ledger.
In the case of Brazil’s fixed-income market, two key asset categories are being assessed – Real Estate Receivables Certificates (CRI) and Agribusiness Receivables Certificates (CRA). Further development work is also planned, with better confidentiality capabilities for users at institutional level.
It has been designed to accommodate more asset classes, other participants, and potentially, international expansion, in the future.
For now, the BRL 22 trillion figure represents the scale of CSD BR’s existing registered-asset infrastructure, not the amount being tokenized on XRPL. The current rollout starts with selected BTG Pactual fund shares and a live blockchain-based audit layer.
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