In accordance with Bitcoin.com, Crown, a São Paulo-based fintech, has raised $13.5 million in a Series A round led by Paradigm. The funding will support the expansion of its institutional-grade stablecoin, BRLV, which is pegged 1:1 to the Brazilian real and backed by Brazilian government bonds. BRLV has reached over R$360 million in subscriptions and is designed to provide programmable BRL infrastructure for banks and enterprises. The company aims for a long-term target of R$1 trillion in circulating supply. The round also includes investors such as Framework Ventures, Coinbase Ventures, and Nubank cofounder Ed Wible. The new capital will be used to advance product development and expand integrations with financial institutions.
Paradigm Leads $13.5M Series A for Crown's BRLV Stablecoin
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