CSD BR, the Brazilian financial-market infrastructure operator, has begun recording ownership of selected investment funds managed by BTG Pactual, Latin America's largest investment bank, on the public XRP Ledger. According to a report by BitcoinKE published on September 30, 2026, the initiative is aimed at making fund ownership records easier for approved institutions to verify in real time.

CSD BR oversees more than 22 trillion Reais (approximately $4 trillion) in registered assets. Under the arrangement, the operator's existing database will remain the official record for registration, custody, and settlement, while the XRP Ledger will hold a secondary blockchain record in which the fund units are represented as tokens — an approach that adds blockchain verification on top of existing market infrastructure rather than replacing it. The XRP Ledger is a public blockchain launched in 2012 and closely associated with Ripple, the blockchain company participating in the project.

The setup is designed to reduce the reconciliation work required among banks, custodians, and the central securities infrastructure — the process of matching ownership records that each of these parties maintains separately. Authorized participants can check the blockchain record against CSD BR's database, while transactions remain subject to identity verification, anti-money-laundering requirements, and other regulatory controls.

The project relies on the XRP Ledger's Multi-Purpose Token standard, a token framework that allows CSD BR to restrict ownership, freeze assets, or reverse transactions when required by regulators or courts. These control functions are intended to keep the on-chain record aligned with the regulatory oversight applied to the official database, pairing public-ledger verifiability with the compliance levers of conventional market infrastructure.

Notably, the initial deployment uses live fund records rather than test assets, meaning the blockchain record reflects real ownership data from the outset — a production start rather than a proof of concept.

CSD BR and Ripple plan to use the experience gathered from the deployment to explore issuing and trading assets directly on the XRP Ledger, with Brazilian real-estate receivables and agribusiness receivables among the potential future applications. How that follow-on phase develops is the next angle to watch as the project moves beyond secondary record-keeping.

Source: BitcoinKE