CSD BR, a Brazilian financial-market infrastructure operator managing over 22 trillion reais (approximately $4 trillion) in registered assets, has begun mirroring ownership records for selected BTG Pactual investment funds on the public XRP Ledger. This deployment adds a near-real-time verification layer, but CSD BR’s database remains the official record for registration, custody, and settlement. Fund shares deposited with CSD BR are represented as tokens on XRPL using the Multi-Purpose Token standard, reflecting ownership information without transferring underlying assets. The structure is public but permissioned: CSD BR retains authority over holders and can freeze assets or reverse transactions when required. CSD BR and Ripple plan to explore direct issuance and trading on XRPL after assessing this record-mirroring phase.
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