PANews reported on October 14 that according to Blockworks, Brazilian stablecoin fintech company Crown announced the completion of a US$8.1 million seed round of financing, led by Framework Ventures, with participation from Valor Capital Group, Coinbase Ventures, Norte Ventures, Paxos, and Nubank co-founder Ed Wible. The new funds will be used to support the company's launch of the stablecoin BRLV, which is pegged to the Brazilian real (BRL) and fully backed by Brazilian government bonds. It is reported that BRLV is different from US dollar-denominated stablecoins such as USDC. It will provide native revenue sharing to institutional partners and distribute a portion of the income from government bonds held to institutions.PANews reported on October 14 that according to Blockworks, Brazilian stablecoin fintech company Crown announced the completion of a US$8.1 million seed round of financing, led by Framework Ventures, with participation from Valor Capital Group, Coinbase Ventures, Norte Ventures, Paxos, and Nubank co-founder Ed Wible. The new funds will be used to support the company's launch of the stablecoin BRLV, which is pegged to the Brazilian real (BRL) and fully backed by Brazilian government bonds. It is reported that BRLV is different from US dollar-denominated stablecoins such as USDC. It will provide native revenue sharing to institutional partners and distribute a portion of the income from government bonds held to institutions.
Stablecoin fintech company Crown completes $8.1 million seed round of financing, led by Framework Ventures
PANews reported on October 14 that according to Blockworks, Brazilian stablecoin fintech company Crown announced the completion of a US$8.1 million seed round of financing, led by Framework Ventures, with participation from Valor Capital Group, Coinbase Ventures, Norte Ventures, Paxos, and Nubank co-founder Ed Wible. The new funds will be used to support the company's launch of the stablecoin BRLV, which is pegged to the Brazilian real (BRL) and fully backed by Brazilian government bonds. It is reported that BRLV is different from US dollar-denominated stablecoins such as USDC. It will provide native revenue sharing to institutional partners and distribute a portion of the income from government bonds held to institutions.
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