---
title: "CSD BR Partners With Ripple to Mirror Financial Assets on XRP Ledger"
description: "The Brazilian central securities depository will track BTG Pactual fund shares on XRPL without altering existing regulatory records."
url: https://basisdesk.news/news/csd-br-ripple-xrp-ledger-brazil-tokenization
published: 2026-09-30T10:41:51.605Z
modified: 2026-09-30T10:41:51.605Z
section: RWA & Tokenization
author: Basis Desk Newsroom (AI-generated, source-verified)
sentiment: bullish
tickers: [XRP]
tags: [csd-br, ripple, xrpl, btg-pactual, brazil, tokenization]
license: Quote with attribution to Basis Desk (basisdesk.news). Not financial advice.
---

# CSD BR Partners With Ripple to Mirror Financial Assets on XRP Ledger

The Brazilian central securities depository will track BTG Pactual fund shares on XRPL without altering existing regulatory records.

## Key points

- CSD BR will use the XRP Ledger to mirror BTG Pactual investment fund shares while maintaining official records on regulated internal systems.
- The deployment uses the XRPL Multi-Purpose Token standard and Ripple custody, restricted to KYC/AML-verified corporate and banking participants.
- Subsequent phases plan to support native issuance and trading for Brazilian fixed-income assets, including CRI and CRA credit certificates.

## Editorial remark

- **Context:** Financial institutions have spent years testing asset tokenization in isolated sandboxes. CSD BR's deployment bridges this gap by linking an operational central depository managing BRL 22 trillion with a public layer-1 network.
- **Impact:** Brazilian institutional clients gain near-real-time auditability of fund units without taking on regulatory settlement risks, providing a blueprint for regulated depositories integrating distributed ledgers.
- **Watch:** Validation milestones for the mirroring phase and the announcement of timeline targets for CRI and CRA token issuances.

Brazilian financial market infrastructure operator CSD BR announced on Sept. 30 that it has launched a strategic partnership with Ripple to record and audit financial assets on the XRP Ledger [1]. In its initial phase, the initiative mirrors fund shares issued by investment bank BTG Pactual on the public chain while keeping CSD BR's regulated systems as the official source of record for asset registration, custody, and settlement [1].

CSD BR, which holds authorization from the Central Bank of Brazil and the Brazilian Securities and Exchange Commission (CVM), manages more than BRL 22 trillion in registered assets [1]. The project deploys the XRP Ledger's Multi-Purpose Token (MPT) standard alongside Ripple's institutional custody platform [1]. The deployment operates as a permissioned layer limited to corporate and banking institutions subject to domestic Know Your Customer (KYC) and anti-money laundering (AML) protocols [1]. To ensure compliance with existing capital market standards, CSD BR maintains asset administration controls, including the capability to authorize participants, freeze assets, and execute transaction clawbacks under judicial or regulatory mandates [1].

## Expansion to Fixed-Income Instruments

The initiative transitions tokenization from sandbox testing into a live operational setting without necessitating revisions to regulatory authorizations or counterparty legal obligations [1]. Daniel Polano Spreafico, Head of Products and Clients at CSD BR, noted that mirroring existing records establishes a testing framework under live transaction conditions while leaving core investor workflows unchanged [1]. 

Following the validation of the fund-share mirroring phase, CSD BR and Ripple plan to expand the architecture toward primary native asset issuance and secondary trading among authorized entities [1]. The roadmap targets fixed-income segments, specifically Real Estate Receivables Certificates (CRI) and Agribusiness Receivables Certificates (CRA), alongside the integration of confidential transaction tools [1]. At the time of writing, $XRP traded at $1.51, up 0.8% over the past 24 hours.

## Sources

1. [CSD BR and Ripple Use the XRP Ledger Blockchain to Expand Brazil's Financial Market Infrastructure](https://ripple.com/ripple-press/csdbr-and-ripple-use-the-xrpl-blockchain-to-expand-brazils-financial-market-infrastructure) — ripple.com, 2026-09-30

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Basis Desk Newsroom · AI-generated, source-verified · https://basisdesk.news/about/how-we-use-ai