The initiative creates a dual-record system where CSD BR retains its role as the official authority for ownership, registration, and settlement of assets. By tokenizing fund shares using the XRP Ledger’s Multi-Purpose Token standard, the depository allows authorized institutions to verify records against the official registry in near-real time. This architecture ensures that existing market processes remain undisturbed while introducing blockchain transparency to a portion of the BRL 22 trillion in assets currently managed by the depository.
Daniel Polano Spreafico, head of products at CSD BR, described the mirroring approach as a cautious, responsible entry into new technology. The system incorporates strict Know Your Customer and anti-money laundering controls, maintaining the ability to reverse transactions or freeze assets if legally required. Following the initial phase, Ripple and CSD BR intend to explore native issuance for Brazilian fixed-income products, specifically Real Estate Receivables Certificates and Agribusiness Receivables Certificates, as they move toward a more integrated blockchain infrastructure.
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