Ripple has partnered with CSD BR to bring the XRP Ledger into Brazil's regulated financial infrastructure for the first time. Ripple said Tuesday that CSD BR will start using the ledger to record and audit financial assets, beginning with BTG Pactual investment fund shares. CSD BR will retain full control of registration, deposit and settlement. The ledger will provide a second layer for checking records in near real time. CSD BR oversees more than BRL 22 trillion, roughly $4.3 trillion, in registered assets. The fund shares will use Ripple's tokenization standard and be mirrored on the XRP Ledger. Access will remain limited to banks and corporate clients in Brazil that undergo standard know-your-customer and anti-money-laundering checks. CSD BR can freeze assets or reverse transactions when ordered by regulators or courts. CSD BR Head of Products and Clients Daniel Polano Spreafico said the depository chose record mirroring as the safest way to introduce the technology into critical market infrastructure. Ripple Managing Director for Latin America Silvio Pegado called the partnership a milestone that moves distributed ledger technology beyond pilots into live record-keeping in a national capital market. The plan calls for native asset issuance and trading after the mirroring phase is validated. Real Estate and Agribusiness Receivables Certificates are under consideration for that expansion. BTG Pactual Partner Luis Furtado said the deal lets the bank apply blockchain to the fund market while preserving existing processes and the official asset record. XRP was up 1.5% Wednesday and remained within a symmetrical triangle that has compressed its price since July. XRP's lower highs from an August peak near $1.70 have met higher lows from a $1 base. XRP held above every major exponential moving average, while its relative strength index stood at a neutral 57.90 after retreating from an overbought August reading. The article identifies $1.70 as the next major target and the 20-day exponential moving average at $1.46 as immediate support.
Ripple Partners with CSD BR to Integrate XRP Ledger into Brazil's Securities Market
NS3Share
Summary
Ripple has partnered with CSD BR to integrate the XRP Ledger into Brazil's securities market, marking the first time the ledger will be used in the country's regulated financial system. CSD BR will use the XRP Ledger to record and audit financial assets, starting with BTG Pactual investment fund shares. The ledger will serve as a second layer for real-time checks, while CSD BR maintains control over settlement and registration. The fund shares will be tokenized using Ripple’s standard and mirrored on the XRP Ledger, with access limited to banks and corporate clients. CSD BR oversees over BRL 22 trillion in assets. The partnership could expand to native asset issuance, with Real Estate and Agribusiness Receivables Certificates under review. With altcoins to watch gaining traction, this move could influence the fear and greed index in emerging markets.
Source:Show original
Disclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of KuCoin. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information.
Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. For more information, please refer to our Terms of Use and Risk Disclosure.