News, data and analysis on tokenized assets, market design and digital economic systems.
Brazilian financial market infrastructure authorised by the central bank as a registrar, depository and settlement system, with more than BRL 22 trillion in registered assets, which from 29 September 2026 mirrors BTG Pactual fund shares on the XRP Ledger while its own systems remain the official record.
CSD BR describes itself as a Brazilian financial market infrastructure built to connect market participants and cut the cost of transactions, and its homepage calls it "A NOVA CLEARING DO MERCADO FINANCEIRO BRASILEIRO", the new clearing house of the Brazilian financial market. It is authorised by the Central Bank of Brazil to provide registration, depository and settlement services and by the Brazilian Securities and Exchange Commission, the CVM, to provide registration and depository services. Its site lists registration, central deposit and settlement for bank-issued assets, private credit, fund shares, derivatives and insurance reserves, and gives SUSEP as a third authorising body. On 29 September 2026 it announced the first phase of a partnership with Ripple. BTG Pactual fund shares deposited at CSD BR are tokenized as Multi-Purpose Tokens on the XRP Ledger and mirrored there, with CSD BR's systems remaining the official source of record for registration, deposit and settlement. CSD BR keeps control of participant authorisation, freezing and reversal, and the partnership names real estate and agribusiness receivables certificates as candidates for native issuance later.
Developments in which CSD BR is a named party, newest first.
CSD BR said on 29 September that BTG Pactual fund shares it holds will be mirrored on the public XRP Ledger as tokens it can freeze and claw back, while its own systems stay the official record.
The Brazilian registrar and depository tokenizes BTG Pactual fund shares it holds as Multi-Purpose Tokens on a permissioned basis, keeping freeze and clawback and keeping its own systems as the official record. No fund or amount is named.
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