Ripple and CSD BR, a regulated financial market infrastructure operator, announced on September 29 a first-phase partnership to mirror ownership records for BTG Pactual investment fund shares on the XRP Ledger (XRPL). According to RippleX executive Markus Infanger, approximately $2.7 billion of the $6.7 billion in tokenized real-world assets on XRPL was located in Brazil, representing nearly 40% of the total reported value. Chainalysis ranked Brazil first for grassroots crypto adoption in its 2026 adoption index, with estimated activity of $252.5 billion between July 2025 and June 2026. Mercado Bitcoin also announced in July 2025 plans to tokenize more than $200 million in real-world assets on XRPL. For now, CSD BR’s systems remain the official records for registration, deposit and settlement, with native issuance and trading envisioned for later phases.
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