São Paulo-based fintech Crown has successfully secured $8.1 million in funding to introduce BRLV, a Brazilian real (BRL)–denominated stablecoin aimed at providing institutional investors with streamlined exposure to Brazil’s high-yield fixed-income market.
BRLV is fully collateralized by Brazilian government bonds, which currently offer some of the world’s most attractive yields. The 10-year government bond yield in Brazil hovers around 14%, having recently peaked near 15.2%, according to data from TradingEconomics. These returns significantly surpass yields in more established markets, making Brazil a compelling destination for fixed-income investors.
However, foreign investors have historically encountered obstacles when attempting to access this market, due to complex regulations, tax considerations, and currency controls. By tokenizing the Brazilian real with government bond collateral, Crown aims to lower these barriers and facilitate global participation in Brazil’s fixed-income instruments.
John Delaney, Crown’s co-founder and CEO, highlighted the approach: “The safest way to manage stablecoin reserves and ensure every token is fully backed is to invest those reserves in government bonds.” He added that unlike many stablecoin issuers who retain all associated income, Crown intends to distribute earnings back to its institutional partners via an income-sharing mechanism, fostering a more equitable model.
Crown’s recent financing round was spearheaded by Framework Ventures and also included investors such as Valor Capital Group, Coinbase Ventures, and Paxos.
The launch of BRLV comes amid increased crypto adoption in Brazil, one of Latin America’s most active markets for digital assets. According to a Chainalysis report, Brazil accounted for $318.8 billion in crypto transaction volume between July 2024 and June 2025, with stablecoins comprising over 90% of that activity. This dominance emphasizes the stablecoin’s role in payments and cross-border remittances within the country.
Institutional engagement has been a key driver of this growth, with banks, fintech firms, and payment providers increasingly integrating blockchain-based solutions into their financial services.
Despite these developments, Brazil’s Central Bank has expressed caution regarding dollar-backed stablecoins, citing concerns over their potential to increase volatility in capital flows and impact monetary policy stability. Deputy Governor Renato Gomes noted that the ease with which stablecoins enable cross-border money movement contributes to this volatility.
Brazil’s stablecoin landscape is further diversified by several real-pegged tokens such as BRL1, a consortium-backed stablecoin supported by exchanges including Bitso, and BRZ, issued by Transfero. These tokens maintain a one-to-one peg with the Brazilian real and are fully backed by fiat reserves.
By launching BRLV, Crown aims to deliver a digital asset that not only simplifies access to Brazil’s lucrative bond market but also offers a transparent and secure stablecoin model grounded in government-issued securities. This development reflects the growing intersection of traditional finance and crypto innovation within Brazil’s evolving financial ecosystem.
