[XRP Ledger Begins Recording BTG Pactual Fund Ownership in Brazil][Title]
A Brazilian financial‑market operator managing over R$22 trillion (≈ US$4 trillion) in registered assets has started recording investment‑fund data for BTG Pactual, Latin America’s largest investment bank, on the XRP Ledger.
CSD BR, which runs Brazil’s regulated registration, securities‑depository, and settlement services, plans to use the XRP Ledger as a secondary owning registry for a selective set of BTG Pactual investment funds—details released to CoinDesk.
A depository maintains the authoritative register of beneficial ownership in securities. When an investor purchases a fund, the depository updates its records; the custodial banks then perform local reconciliation to verify consistency.
This reconciliation process is traditionally slow and costly, and mismatches can impede trades.
The existing CSD BR system remains the definitive source for registration, custody and settlement, and the assets it holds are not transferred to the XRP Ledger. Fund shares held by CSD BR will instead be represented as tokens on XRPL.
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