Brazil’s CSD BR adds XRP Ledger to tokenized fund shares and settlement setup

Brazilian market infrastructure provider CSD BR has integrated the XRP Ledger into a setup that will mirror tokenized shares of BTG Pactual investment funds, according to Ripple. The company said CSD BR will remain the official record for ownership, while XRPL will serve as a complementary layer for audit and settlement-related checks.

Ripple described the rollout as part of Brazil’s regulated financial-market infrastructure, with the first phase focused on BTG Pactual fund shares. The arrangement does not replace CSD BR’s legal role in recording ownership. Instead, it adds a blockchain-based copy that authorized institutions can reference alongside CSD BR’s internal systems.

CSD BR keeps the legal record while XRPL adds a second layer

In the structure described by Ripple, the tokenized fund shares are not being moved out of CSD BR’s system of record. The depository remains responsible for registration and settlement, while the XRP Ledger is used as an additional layer to record and audit the assets.

That distinction matters because the blockchain integration appears to be designed for reconciliation and verification rather than a wholesale replacement of the existing market infrastructure. Ripple said the first phase is taking place within Brazil’s regulated framework, and that CSD BR’s role as the official record remains unchanged.

The announcement also framed the move as part of a broader infrastructure expansion. CSD BR reportedly oversees more than BRL 22 trillion in registered assets, giving the rollout a sizable base inside Brazil’s capital markets plumbing.

For now, the clearest confirmed change is operational: selected fund shares tied to BTG Pactual are being mirrored on XRPL, while CSD BR continues to hold the legal records that govern ownership and settlement.