PANews, December 8—Crypto venture capital firm Paradigm announced a $13.5 million investment in Brazilian stablecoin company Crown, with this round valuing the company at approximately $90 million. This marks Paradigm’s first investment in Brazil. Crown stated that its BRLV stablecoin, pegged to the Brazilian Real (BRL), has become “the world’s largest emerging market stablecoin” and is fully backed by Brazilian government bonds, currently totaling about 360 million BRL (approximately $66 million).
BRLV primarily targets institutional clients, allowing investors to earn Brazil’s high interest rates (around 15%) by holding the stablecoin. Paradigm said that Crown has established strong scale effects and is poised for rapid expansion in Brazil.
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