Crypto
XRP Ledger begins mirroring fund records from Brazilian operator overseeing $4 trillion
A regulated Brazilian operator overseeing $4 trillion in assets has started mirroring ownership records of selected investment funds on the XRP Ledger, while keeping its existing database as the official record.
The blockchain is being used as a parallel record-keeping layer rather than a replacement for the operator's core system.
For beginners Mirroring traditional financial records onto a blockchain (a shared, transparent transaction ledger) lets institutions test faster settlement without giving up their existing legal record-keeping system.