Paradigm Invests $13.5 Million in Brazil’s Crown Stablecoin Platform
Paradigm’s first Brazilian investment supports Crown’s BRLV, a government bond-backed stablecoin pegged to the real, enhancing institutional access to local currency digital assets.
Summary
According to an official statement, Paradigm invested $13.5 million in Crown’s Series A funding round, valuing the Brazil-based firm at $90 million. This marks Paradigm’s first venture into the Brazilian market. Crown issues the BRLV stablecoin, pegged to the Brazilian real and fully backed by Brazilian government bonds, aiming to provide secure local currency exposure via blockchain. The BRLV stablecoin has scaled to BRL 360 million (about $66 million) and offers around 15% annual yield to institutional investors.
Terms & Concepts
- Stablecoin: A cryptocurrency pegged to a stable asset, like fiat currency or government bonds, to reduce price volatility.
- Government bonds: Debt securities issued by a national government, generally considered low-risk investments.
- Yield: The income return on an investment, expressed as an annual percentage rate.