Ripple quietly made Brazil the center of its XRPL tokenization push

Ripple's Brazilian foothold spans cross-border payments and securities records in a country Chainalysis ranked first for grassroots crypto adoption.Ripple and CSD BR, a regulated financial market infrastructure operator, announced a first phase on Sept. 29 to mirror ownership records for BTG Pactual investment fund shares on the XRP Ledger (XRPL). CSD BR's systems will remain the official record for registration, deposit, and settlement.The announcement follows a Sept. 28 interview in which RippleX executive Markus Infanger told Estadão's E-Investidor that about $2.7 billion of the $6.7 billion in tokenized real-world financial assets he counted on XRPL was in Brazil.That puts roughly 40% of the reported asset value in one country, although the measure reflects assets rather than payment activity.Together, the developments show how Ripple's years of expansion have connected it to several parts of Brazil's financial system. The opportunity spans institutions moving money, platforms distributing stablecoins, and firms managing investment assets, with different measures of success for each.Ripple was building there before the rankingRipple opened its Brazilian office in 2019 and annou...