XRP Ledger starts carrying fund records from Brazil operator overseeing $4 trillion

Approved banks and companies can read that blockchain copy directly and check it against CSD BR's database at any moment, instead of comparing their own books after the fact. Every change on XRP Ledger is publicly recorded, including any reversal CSD BR makes, so a gap between the two records would be visible.

Why use a public blockchain?

Many banks and depositories have experimented with private blockchains open only to invited members. CSD BR uses a public one while keeping control over who can hold the tokens.

Anyone can read those token movements on XRP Ledger, but CSD BR still controls who can own and transfer them.

Those tokens use XRP Ledger's Multi-Purpose Token standard, designed for financial assets whose issuers need more control than cryptocurrencies such as XRP provide. CSD BR can restrict who participates and freeze assets or reverse transactions when required by a regulator or court. Participants still have to pass the usual identity and anti-money-laundering checks.

The project starts with live fund records, according to Ripple and CSD BR.

That puts it a step beyond the blockchain pilots banks have run for years using test assets or closed networks. Real fund ownership records are being copied onto the public ledger, even though CSD BR's existing system still has the final legal say.