Paradigm invests $13.5 million in Brazilian stablecoin startup Crown
ChainCatcher news, according to The Block, crypto venture capital firm Paradigm has announced a $13.5 million investment in Brazilian stablecoin startup Crown, bringing Crown's valuation to $900 million in this funding round. This marks Paradigm's first investment in the Brazilian market, signaling its recognition of the potential of digital assets in emerging markets.
The BRLV stablecoin created by Crown is pegged to the Brazilian real and fully backed by Brazilian government bonds, making it the world's largest emerging market stablecoin. Unlike the zero-yield Tether, BRLV offers institutional clients up to a 15% yield based on Brazil's benchmark interest rate, with current subscriptions exceeding 360 million reals (approximately $66 million).
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