XRP news: XRP Ledger starts carrying Brazil fund records worth $4 trillion

A Brazilian financial-market operator responsible for more than 22 trillion reais of registered assets, roughly $4 trillion, has begun putting records for investment funds run by BTG Pactual, Latin America’s largest investment bank, onto the XRP Ledger.

CSD BR, which operates regulated registration, securities-depository, and settlement systems in Brazil, will use the public blockchain as a second record of who owns shares in selected BTG Pactual investment funds, according to a release shared with CoinDesk.

A depository keeps the official list of who owns which securities. When an investor buys into a fund, the depository updates its records, while the banks acting for investors keep their own books and regularly check them against the depository’s to make sure they match.

That matching work, known as reconciliation, is slow and costly, and a mismatch can hold up a trade.

The existing CSD BR database remains the official record used for registration, custody and settlement, and the assets registered with CSD BR are not being moved onto XRP Ledger. Fund shares deposited with CSD BR will also be represented as tokens on XRPL.

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