Ripple and Cardano expand blockchain pilots in Brazil

  • CSD BR began testing XRP Ledger to mirror selected BTG Pactual investment fund-share records.
  • CSD BR manages more than $4 trillion in registered assets across its existing infrastructure.
  • Cardano Foundation and Petrobras launched blockchain applications for sustainable aviation fuel and renewable diesel.

CSD BR has begun testing the XRP Ledger as a parallel record system for selected BTG Pactual investment fund shares, while retaining its internal infrastructure as the official register for ownership, registration and settlement. The Brazilian financial-market infrastructure operator uses XRP Ledger's Multi-Purpose Token standard and Ripple custody technology, with access restricted to identified corporate and banking customers. CSD BR manages more than $4 trillion in registered assets and plans to explore native asset issuance, including potential fixed-income products, after the pilot. Separately, Cardano Foundation and Petrobras have introduced blockchain applications to track sustainable aviation fuel credits and renewable diesel across production, transport and use. XRP traded near $1.52 and ADA near $0.2549 following the announcements, with ADA up 0.9% over 24 hours but still more than 91% below its 2021 all-time high.

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