Crown, a São Paulo-based fintech, has raised $8.1 million in a funding round led by Framework Ventures, with participation from Valor Capital Group, Coinbase Ventures, Paxos, and others, to launch BRLV, a Brazilian real-backed stablecoin collateralized by government bonds.
The stablecoin is designed to distribute Brazilian sovereign bond yields to institutional partners, offering access to high-interest rates, with the 10-year government bond yield around 14% and the central bank's Selic rate at 15%. This initiative aims to simplify entry into Brazil's fixed-income market, overcoming regulatory and capital control hurdles for global investors.
CEO John Delaney stated, "This structure makes BRLV both safer and fairer, giving partners access to the Brazilian real’s high-interest environment through a transparent, regulated model." The launch aligns with Brazil's Virtual Assets Law and could reshape the country's crypto landscape, where stablecoins account for over 90% of crypto transaction volume, according to Chainalysis data.
