Ripple Labs Launched Asset Tokenization on XRP Ledger in Brazil

Published: October 1, 2026 – 14:47 UTC

Brazil has started using the XRP Ledger in its financial infrastructure.
Ripple Labs has launched a project with CSD BR.
The blockchain is needed for asset recordkeeping.

Brazilian infrastructure company CSD BR announced the launch of the first phase of its partnership with Ripple Labs to use the XRP Ledger (XRPL) blockchain in real-world financial market operations.

At the outset, units of BTG Pactual investment funds will be tokenized and mirrored on a public blockchain, enabling participants to verify asset ownership records almost in real time, while CSD BR’s systems will remain the official registry.

XRP Ledger Will Become an Additional Layer for Asset Recordkeeping

CSD BR is a financial market infrastructure provider authorized to operate as a registrar, a central securities depository, and a settlement system. The company services registered assets worth more than 22 trillion Brazilian reals ($4 trillion) and can process millions of transactions in a matter of minutes.

As part of the first phase, BTG Pactual fund units held at CSD BR will be tokenized under the multi-purpose token (MPT) standard and mirrored on XRPL. In this setup, the blockchain will serve as an additional layer for:

Verifying and auditing records
Improving transparency and traceability of operations
Automating certain processes
Checking record consistency almost in real time

CSD BR’s systems will remain the official source of information for registration, custody, and settlement. According to CSD BR’s head of products and clients, Daniel Polano Spreafico, the company started specifically with mirroring records because it is “the safest and most responsible way to introduce new technology into critical market infrastructure.”

The architecture also предусматривает the use of Ripple Labs’ custody infrastructure and XRPL capabilities. Corporate and banking clients in Brazil who complete KYC and AML procedures will have access to the system.

At the same time, CSD BR will retain control over the issuance and administration of assets, including the ability to freeze specific assets and perform clawbacks based on a regulatory or court decision.

The Model Could Be Expanded after Testing

The current stage is intended to test how the technology performs in real-world operations without changing participants’ legal obligations or the official status of records. Silvio Pegado, Managing Director of Ripple Labs in Latin America, called the shift from pilot projects to infrastructure operating in the national capital market “an important milestone for the industry.”

If the record-mirroring stage is successful, the partners plan to gradually expand the use of blockchain. The next phases may include:

Native issuance of tokenized assets
Trading between authorized participants
Tokenization of real estate receivables certificates (CRI)
Tokenization of agribusiness receivables certificates (CRA)

CRI and CRA are significant segments of Brazil’s fixed-income instruments market. The platform is also expected to be enhanced with privacy mechanisms to meet financial market requirements.

BTG Pactual noted that participation in the project allows the bank to apply blockchain in the funds market within a regulated infrastructure and with real transactions. According to BTG Pactual partner Luis Furtado, “the mirroring of fund units creates a concrete foundation for future developments, while preserving current processes and the official asset registry.”

The model is designed not only for Brazilian assets: in the future, it could be adapted for new asset classes, participants, and potentially other international markets.

As a reminder, Ripple Labs recently obtained a service provider license in Luxembourg, and Brazil’s largest oil and gas company Petrobras began testing the Cardano blockchain.

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Source: Incrypted