The regulated operator is reflecting ownership of select investment funds on XRPL while maintaining its existing database as the official record.
By Shaurya MalwaUpdated Sep 30, 2026, 1:45 a.m. EDTPublished Sep 30, 2026, 1:22 a.m. EDT3 min readMake preferred on ShareShare this articleCopy linkX (Twitter)LinkedInFacebookEmailMake preferred on Brazil's flag (Rafaela Biazi/Unsplash/Modified by CoinDesk)SummaryShow- CSD BR is documenting ownership of selected BTG Pactual investment funds on the public XRP Ledger, while its database remains the authoritative record for registration, custody, and settlement.
- The blockchain version is designed to allow authorized institutions to verify ownership transfers in real-time, streamlining the reconciliation process while safeguarding identity verification and regulatory compliance.
- Following successful tests with live fund records, CSD BR and Ripple plan to investigate direct asset issuance and trading on the ledger, potentially covering real estate and agribusiness receivables.
A Brazilian financial operator, managing over 22 trillion reais (approximately $4 trillion) in registered assets, has started to upload records of investment funds managed by BTG Pactual, the largest investment bank in Latin America, onto the XRP Ledger.
CSD BR, which oversees regulated registration, securities depository, and settlement systems in Brazil, will utilize the public blockchain as a secondary record for ownership of certain BTG Pactual investment funds, as disclosed in a release sent to CoinDesk.
A depository maintains the official ownership records for securities. When an investor acquires shares in a fund, the depository updates its records, while banks representing investors maintain their own records and periodically reconcile them with the depository's to ensure accuracy.
This reconciliation process is often slow and expensive, and discrepancies can delay trades.
The existing database of CSD BR will continue to serve as the official record for registration, custody, and settlement, and the assets registered with CSD BR will not be transferred to the XRP Ledger. However, shares held at CSD BR will also be represented as tokens on XRPL.
Approved banks and firms can directly access the blockchain version and cross-reference it with CSD BR's records in real-time, rather than waiting to compare their own records afterward. Every modification on the XRP Ledger is publicly documented, including any corrections made by CSD BR, making any discrepancies between the two records apparent.
Why opt for a public blockchain?
While many banks and depositories have tested private blockchains limited to select members, CSD BR chooses to use a public blockchain while retaining control over who can hold the tokens.
Token movements on XRP Ledger are accessible to anyone, but CSD BR maintains authority over token ownership and transfers.
These tokens employ XRP Ledger's Multi-Purpose Token standard, crafted for financial assets that require more control than cryptocurrencies like XRP can offer. CSD BR can limit participation and has the ability to freeze assets or reverse transactions when mandated by a regulatory body or court. Participants must still comply with standard identity verification and anti-money laundering regulations.
The initiative begins with live fund records, according to Ripple and CSD BR.
This advancement surpasses the blockchain trials that banks have conducted for years using test assets or closed networks. Real ownership records of funds are being mirrored onto the public ledger, while CSD BR's existing system retains the ultimate legal authority.
Founded in 2018, CSD BR is authorized by both Brazil's central bank and securities regulator. Its systems oversee the registration and maintenance of positions in various financial instruments, including securities and derivatives.
The more significant transformation is expected to follow. Assets that are issued and traded directly on a blockchain can exchange hands and settle in mere seconds, contrasting with the days or more that traditional securities trades can require to complete. Initially mirroring live records provides a foundational base for testing this capability.
Once CSD BR is confident with the mirroring process, the plan is to trial issuing assets directly on the XRP Ledger and enabling approved participants to trade them there.
Future possibilities may include Brazilian real estate receivables and agribusiness receivables, both well-established sectors within the country's fixed-income market.
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Beyond the Risk-Free Rate: Diversified Real World Yield in Productive Stablecoins
Beyond the Risk-Free Rate: Diversified Real World Yield in Productive Stablecoins
Diversified RWA stablecoins maintain a yield of 5-7% from real credit as crypto funding dwindles to around 4%. GENIUS drives yield off-chain; total addressable market expected to grow to $4B in three years.
By CoinDesk ResearchSep 24, 2026Commissioned byRealFiDiversified RWA stablecoins sustain a yield of 5-7% from real credit as crypto funding compresses to ~4%. GENIUS pushes yield off-chain; total addressable market expected to grow to $4B in three years.
Why it matters:
Diversified RWA stablecoins sustain a yield of 5-7% from real credit as crypto funding compresses to ~4%. GENIUS pushes yield off-chain; total addressable market expected to grow to $4B in three years.
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