Ripple and CSD BR, Brazil’s financial market infrastructure worth $22 trillion, have announced a partnership to integrate blockchain technology into financial asset recording and auditing processes. In the first phase, investment fund shares from BTG Pactual will be tokenized and mirrored on the XRP Ledger using the Multi-Purpose Token standard. The system will operate on a permissioned basis with KYC and anti-money laundering requirements, without replacing CSD BR’s existing infrastructure which will retain control over asset issuance and administration. Future developments could include Real Estate Receivables Certificates (CRI) and Agribusiness Receivables Certificates (CRA), key components of Brazil’s fixed-income market.
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