Crown, a São Paulo–based fintech focused on programmable money in emerging markets, has raised $8.1 million in seed funding to launch BRLV, a stablecoin pegged to the Brazilian real (BRL) and fully backed by Brazilian government bonds.
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 is also joining Crown’s board.
The funding will accelerate Crown’s product development and market expansion as it seeks to become Brazil’s leading BRL stablecoin issuer. BRLV differs from dollar-denominated stablecoins like USDC by offering native revenue sharing to institutional partners, distributing a portion of yield from government bond holdings.
CEO John Delaney said the structure makes BRLV “both safer and fairer,” giving partners access to the Brazilian real’s high-interest environment through a transparent, regulated model.
Framework Ventures’ Vance Spencer said Crown’s model could position it as “the Circle of Brazil,” emphasizing the potential for fintechs and global investors to gain efficient, on-chain exposure to local yields.
The raise underscores renewed venture interest in compliant stablecoin infrastructure after a period of regulatory uncertainty. With backing from both crypto-native and traditional finance investors, Crown aims to bridge on-chain liquidity with sovereign debt-based stability, expanding institutional access to Brazil’s financial ecosystem.
This is a developing story.
This article was generated with the assistance of AI and reviewed by editor Jeffrey Albus before publication.
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Source: https://blockworks.co/news/crown-brlv-brazilian-real-stablecoin
