Crown Raises $8.1M to Launch Brazil’s Real-Backed Stablecoin BRLV
Crown, a São Paulo–based fintech, has raised $8.1 million in seed funding to launch BRLV, a fully backed stablecoin tied to the Brazilian real (BRL).
The round was led by Framework Ventures, with participation from Valor Capital Group, Coinbase Ventures, Norte Ventures, Paxos, and Ed Wible, co-founder of Nubank, who will also join Crown’s board.
BRLV provides a blockchain-based version of Brazil’s national currency for payments, settlements, and asset management. Each token is backed by reserves held in Brazilian government bonds, offering stability and regulatory compliance.
By combining blockchain efficiency with traditional finance safeguards, Crown aims to simplify access to Brazil’s high-yield financial markets while protecting users’ funds.
Crown aims to simplify access to Brazil’s high-yield financial markets while protecting users’ funds.
Author’s summary: Crown raises $8.1M for BRLV stablecoin.