Brazilian central securities depository CSD BR has integrated the XRP Ledger into its regulated infrastructure, starting with investment fund shares from BTG Pactual. Ripple executive Luke Judges says it is the first public integration of the ledger into financial market infrastructure at this scale, and it remains the sole blockchain in CSD BR's technology stack so far.
Brazilian financial-market infrastructure provider CSD BR has moved to integrate the XRP Ledger into its regulated securities infrastructure, according to a local media outlet. The Ripple-led initiative will use the ledger as an additional record and audit layer for investment fund shares held at CSD BR.
The rollout begins with fund shares from Brazilian banking giant BTG Pactual deposited with CSD BR. Ripple Latin America Managing Director Silvio Pegado described the shift from pilots into live national capital-market infrastructure as an important milestone for the wider distributed-ledger industry.
CSD BR forms part of Brazil's regulated financial-market infrastructure, covering asset registration and central securities depository functions. The company is authorized by major Brazilian financial regulators, including the Central Bank of Brazil.
Ripple executive Luke Judges described Brazil as the world's 10th-largest economy and said CSD BR has more than BRL 22 trillion worth of registered assets. He said the project could open a path for a significant portion of Brazil's fixed-income market to move onto the XRP Ledger.
According to Judges, CSD BR chose the XRP Ledger because the network was built around financial applications and can plug into existing regulated infrastructure without modification. He said XRPL is currently the only blockchain in the project's technology stack: "Today, XRPL is the only blockchain in the stack," he said.
Source: U.Today
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