#xrp
XRP Ledger Tapped for Brazil's $4 Trillion Securities Market
Brazilian financ-market infrastructure provider CSD BR has moved to integrate the xrp Ledger into its regulated securities infrastructure, according to a local media outlet
The Ripple-led initiative will initially use the xrp Ledger as an additional record and audit layer for investment fund shares held at CSD BR. The first assets involved will be fund shares from Brazilian banking giant BTG Pactual
According to Ripple executive Luke Judges, the project could open a path for significant portions of Brazil's massive fixed-income market to move onto the xrp Ledger.
This is the first time the xrp Ledger is publicly being integrated into core financial market infrastructure of this scale, Judges said
Regulated market infrastructure
CSD BR forms part of Brazil's regulated financ-market infrastructure. Its services cover asset registration, central securities depository functions and so on
The company is authorized by major Brazilian financial regulators, including the Central Bank of Brazil
Judges described Brazil as the world's 10th-largest economy and said CSD BR has more than BRL 22 trillion worth of registered assets. Hence, the sheer scale of the tie-up should not be underestimated
The xrp Ledger is being connected to infrastructure that already sits inside Brazil's regulated capital markets
The rollout will begin with investment fund shares from BTG Pactual that are deposited with CSD BR
The CSD BR project is intended to move beyond the familiar proof-of-concept model
Ripple Latin America Managing Director Silvio Pegado described the transition from pilots into live national capital-market infrastructure as an important milestone for the broader distributed-ledger industry
According to Judges, CSD BR selected the xrp Ledger because the network was designed around financial applications
CSD BR chose the XRPL because it was purpose-built for financial use cases and can integrate with existing regulated infrastructure out of the box," he said.#Write2Earn #EarningsSeason $XRP
XRP Ledger Tapped for Brazil's $4 Trillion Securities Market
Brazilian financ-market infrastructure provider CSD BR has moved to integrate the xrp Ledger into its regulated securities infrastructure, according to a local media outlet
The Ripple-led initiative will initially use the xrp Ledger as an additional record and audit layer for investment fund shares held at CSD BR. The first assets involved will be fund shares from Brazilian banking giant BTG Pactual
According to Ripple executive Luke Judges, the project could open a path for significant portions of Brazil's massive fixed-income market to move onto the xrp Ledger.
This is the first time the xrp Ledger is publicly being integrated into core financial market infrastructure of this scale, Judges said
Regulated market infrastructure
CSD BR forms part of Brazil's regulated financ-market infrastructure. Its services cover asset registration, central securities depository functions and so on
The company is authorized by major Brazilian financial regulators, including the Central Bank of Brazil
Judges described Brazil as the world's 10th-largest economy and said CSD BR has more than BRL 22 trillion worth of registered assets. Hence, the sheer scale of the tie-up should not be underestimated
The xrp Ledger is being connected to infrastructure that already sits inside Brazil's regulated capital markets
The rollout will begin with investment fund shares from BTG Pactual that are deposited with CSD BR
The CSD BR project is intended to move beyond the familiar proof-of-concept model
Ripple Latin America Managing Director Silvio Pegado described the transition from pilots into live national capital-market infrastructure as an important milestone for the broader distributed-ledger industry
According to Judges, CSD BR selected the xrp Ledger because the network was designed around financial applications
CSD BR chose the XRPL because it was purpose-built for financial use cases and can integrate with existing regulated infrastructure out of the box," he said.#Write2Earn #EarningsSeason $XRP
