Brazilian securities depository CSDBR has begun the first phase of a strategic partnership with Ripple, using the XRP Ledger as an additional verification layer for securities records. The initial operation covers investment-fund beneficiary certificates issued by investment bank BTG Pactual. CSDBR will continue to maintain the official records in its existing systems, while the XRP Ledger mirrors securities-holding information. The initiative marks the first time a central securities depository has used a public blockchain for this purpose, and CSDBR has more than 22 trillion reais in registered assets.