Major Ripple (XRP) Partnership Targeting Brazil’s $22 Trillion Financial Market Infrastructure

The partnership uses XRP Ledger to improve transparency and auditing without replacing CSD BR's official financial asset records. CSD BR and Ripple have partnered to use blockchain technology in Brazil’s financial market infrastructure. In the first phase, the XRP Ledger will be used to record and audit financial assets. Ripple-CSD BR Deal The project will initially focus on investment fund shares from BTG Pactual. Under the new model, selected financial assets will be tokenized and mirrored on the XRP Ledger. The assets will use the Multi-Purpose Token (MPT) standard. The blockchain will not replace CSD BR’s existing infrastructure but will provide an additional way to check and audit asset records. Authorized participants will be able to verify records on the blockchain in near real time. The companies said this is expected to improve transparency and traceability. It could also support more automation and efficiency in financial market processes. The system will operate on a permissioned basis. Access will be limited to eligible corporate and banking clients in Brazil. Participants will also be subject to Know Your Customer (KYC) and anti-money laundering (AML) requirements. CSD...