# Crown BRLV > Crown BRLV is a stablecoin pegged 1:1 to the Brazilian Real (BRL). Developed by the company Crown, it is backed by a reserve of Brazilian government bonds and i... - Canonical URL: https://iq.wiki/wiki/crown-brlv - Categories: Cryptoassets - Tags: Stablecoin, Infrastructure - Created: 2026-03-05T01:48:20.188Z - Last updated: 2026-07-16T14:50:00.586Z - Source: IQ.wiki — the world's largest blockchain and crypto encyclopedia (https://iq.wiki) --- **Crown BRLV** is a [stablecoin](https://iq.wiki/wiki/stablecoin) pegged 1:1 to the Brazilian Real (BRL), issued by the São Paulo-based financial technology company Crown. The project is designed to serve as an institutional-grade, programmable version of the Brazilian Real, targeting use cases in payments, tokenized settlements, [decentralized finance](https://iq.wiki/wiki/defi) (DeFi), and corporate treasury management. [\[1\]](#cite-id-C8KHGAk2TT76IcVd) [\[2\]](#cite-id-MajBJebhsaafmk3S) The stablecoin is backed by a reserve of short-term Brazilian government bonds and is notable for its legal structure, which aims to provide holders with a direct, enforceable claim on the underlying assets. [\[2\]](#cite-id-MajBJebhsaafmk3S)​ ## Overview Crown was founded to create a secure and compliant bridge between Brazil's traditional financial system and the global digital asset economy. [\[3\]](#cite-id-VWLrq7ZzwQjWYmeP) The company's primary product, the BRLV [stablecoin](https://iq.wiki/wiki/stablecoin), is structured to provide institutional-grade safety while allowing holders to gain native exposure to Brazil's interest rates through the yield generated by the reserve assets. [\[4\]](#cite-id-SUeeRDONtcmVfMo7) The project's strategy has been to focus initially on serving institutional clients, such as fintechs, asset managers, and global crypto companies, who seek a stable, on-chain BRL asset for treasury management or to facilitate a "carry trade" to access Brazilian yields. [\[4\]](#cite-id-SUeeRDONtcmVfMo7)​ The technical and legal architecture of BRLV is a core aspect of the project. The [stablecoin](https://iq.wiki/wiki/stablecoin) is fully collateralized by Brazilian sovereign debt held in a bankruptcy-remote legal structure. [\[2\]](#cite-id-MajBJebhsaafmk3S) This framework is designed to insulate the reserve assets from Crown's own operational liabilities. A key feature is the garantia real, or "perfected legal claim," which grants BRLV holders a legally enforceable right to the underlying collateral, a feature intended to be effective even for tokens acquired on secondary markets. [\[5\]](#cite-id-iGVf9b28btupybPL) The platform also features native integration with Brazil's instant payment system, PIX, to facilitate seamless minting and redemption of the stablecoin. [\[2\]](#cite-id-MajBJebhsaafmk3S)​ The company has secured significant backing from prominent venture capital firms. Its Series A funding round was led by [Paradigm](https://iq.wiki/wiki/paradigm), marking the firm's first investment in a Brazilian company. [\[6\]](#cite-id-4jF4JH4yaoEAa38k) [\[4\]](#cite-id-SUeeRDONtcmVfMo7) By late 2025 and early 2026, the BRLV [stablecoin](https://iq.wiki/wiki/stablecoin) had reportedly surpassed R$360 million in total subscriptions. [\[2\]](#cite-id-MajBJebhsaafmk3S) The company has stated a long-term goal of reaching one trillion reais in circulation. [\[4\]](#cite-id-SUeeRDONtcmVfMo7)​ ## History and Development The development of Crown began with the insight that a successful [stablecoin](https://iq.wiki/wiki/stablecoin) in Brazil's high-interest-rate environment would need to offer a form of yield to be competitive. [\[4\]](#cite-id-SUeeRDONtcmVfMo7) The company was established in São Paulo, Brazil, with a mission to build institutional-grade infrastructure for stablecoin-based financial systems in emerging markets. [\[2\]](#cite-id-MajBJebhsaafmk3S)​ Crown raised an 13.5 million Series A round led exclusively by [Paradigm](https://iq.wiki/wiki/paradigm), which valued the company at $90 million. [\[6\]](#cite-id-4jF4JH4yaoEAa38k) [\[4\]](#cite-id-SUeeRDONtcmVfMo7) This investment was used to accelerate the development and launch of the BRLV [stablecoin](https://iq.wiki/wiki/stablecoin). [\[6\]](#cite-id-4jF4JH4yaoEAa38k)​ By December 2025, the BRLV [stablecoin](https://iq.wiki/wiki/stablecoin) had reportedly achieved over R66 million USD at the time) in total subscriptions. [\[4\]](#cite-id-SUeeRDONtcmVfMo7) The company made a formal announcement in January 2026 highlighting this milestone in conjunction with details of its Series A funding from [Paradigm](https://iq.wiki/wiki/paradigm). [\[2\]](#cite-id-MajBJebhsaafmk3S)​ ## Technology and Architecture ### The BRLV Stablecoin BRLV is a fiat-collateralized [stablecoin](https://iq.wiki/wiki/stablecoin) designed to maintain a 1:1 value proposition with the Brazilian Real. It serves as a programmable digital representation of BRL for on-chain transactions. [\[1\]](#cite-id-C8KHGAk2TT76IcVd) The token's architecture is focused on providing a stable unit of account and medium of exchange for institutional clients, fintechs, and developers building on public [blockchains](https://iq.wiki/wiki/blockchain). [\[6\]](#cite-id-4jF4JH4yaoEAa38k)​ ### Reserve and Legal Structure The backing of the BRLV [stablecoin](https://iq.wiki/wiki/stablecoin) is a central component of its design, emphasizing security and legal clarity for holders. [\[2\]](#cite-id-MajBJebhsaafmk3S)​ #### Collateral BRLV is 100% backed by short-term Brazilian government bonds, also known as sovereign debt securities. [\[6\]](#cite-id-4jF4JH4yaoEAa38k) [\[2\]](#cite-id-MajBJebhsaafmk3S) The reserve composition explicitly excludes bank products to mitigate counterparty risk associated with banking institutions. The collateral is held in segregated accounts, distinct from Crown's corporate funds. [\[7\]](#cite-id-bEkLsEeBDjLoso09)​ #### Bankruptcy-Remoteness The reserve assets are held within a separate, bankruptcy-remote legal entity. [\[2\]](#cite-id-MajBJebhsaafmk3S) This structure, achieved through Brazil's fiduciary assignment law, legally separates the collateral from Crown's own balance sheet and operational liabilities. It is designed to ensure that token holders have a primary claim on the reserve assets, protecting them in the event of the company's insolvency. [\[1\]](#cite-id-C8KHGAk2TT76IcVd)​ #### `Garantia Real` (Perfected Legal Claim) Crown BRLV is described as the first stablecoin to offer holders a garantia real, or "perfected legal claim," on the underlying reserve assets. [\[2\]](#cite-id-MajBJebhsaafmk3S) This legal right is enforceable by the token holder and is intended to persist even if the token is acquired on a secondary market. This structure moves beyond trust-based models by providing a legally recognized and enforceable claim on a proportional share of the government bonds in the reserve. [\[5\]](#cite-id-iGVf9b28btupybPL)​ ### Institutional Features Crown's platform was built with a compliance-first architecture and includes a suite of tools for business and enterprise clients. [\[6\]](#cite-id-4jF4JH4yaoEAa38k)​ * **PIX Integration:** The platform features native integration with PIX, Brazil's domestic instant payment system. This allows for near-instant on-ramping (minting BRLV by depositing BRL) and off-ramping (burning BRLV to receive BRL). [\[2\]](#cite-id-MajBJebhsaafmk3S) * **APIs and UI:** Crown provides plug-and-play APIs for programmatic integration of BRLV into financial applications, exchanges, and treasury management systems. An accompanying user interface is available for institutional clients to manage their activities. [\[5\]](#cite-id-iGVf9b28btupybPL) * **Audits and Transparency:** The company has stated its reserves are subject to regular audits and attestations by a major accounting firm to ensure full 1:1 backing and provide institutional-grade transparency. [\[7\]](#cite-id-bEkLsEeBDjLoso09) ## Funding and Investors Crown has raised a total of $21.6 million in disclosed funding across two rounds. [\[4\]](#cite-id-SUeeRDONtcmVfMo7)​ An $8.1 million Seed round was led by [Framework Ventures](https://iq.wiki/wiki/framework-ventures). Other investors in the round included Valor Capital Group, [Coinbase](https://iq.wiki/wiki/coinbase) Ventures, Norte Ventures, and [Paxos](https://iq.wiki/wiki/paxos), along with an investment from Nubank co-founder Edward Wible. [\[4\]](#cite-id-SUeeRDONtcmVfMo7)​ In a subsequent Series A round, the company raised 90 million. [\[6\]](#cite-id-4jF4JH4yaoEAa38k) This was [Paradigm](https://iq.wiki/wiki/paradigm)'s first investment in a Brazilian company. As part of the deal, Alana Palmedo, a Managing Partner at Paradigm, joined Crown's board of directors. A number of other firms also participated in the company's funding, including Standard Crypto, TIA Ventures, [Robot Ventures](https://iq.wiki/wiki/robot-ventures), F4 Fund, and Tioga Capital. [\[2\]](#cite-id-MajBJebhsaafmk3S) [\[1\]](#cite-id-C8KHGAk2TT76IcVd)​ ## Leadership and Governance According to multiple reports, Crown was co-founded by [John Delaney](https://iq.wiki/wiki/john-delaney), who serves as CEO, and [Vinicius Correa](https://iq.wiki/wiki/vinicius-correa). [\[4\]](#cite-id-SUeeRDONtcmVfMo7) [\[6\]](#cite-id-4jF4JH4yaoEAa38k) Delaney is a lawyer from New York who moved to Brazil around 2010. Correa has a background in technology and previously worked at the Brazilian fintech company Nubank. [\[4\]](#cite-id-SUeeRDONtcmVfMo7)​ The executive team also includes Tatiana Rezende, who was appointed as the company's Chief Financial Officer (CFO) around mid-2024. [\[2\]](#cite-id-MajBJebhsaafmk3S)​ Crown's board of directors includes representation from its key partners. Alana Palmedo, a Managing Partner at lead investor [Paradigm](https://iq.wiki/wiki/paradigm), sits on the board. [\[2\]](#cite-id-MajBJebhsaafmk3S) Edward Wible, a co-founder of Nubank and an early investor in Crown, also serves on the board of directors. [\[2\]](#cite-id-MajBJebhsaafmk3S)​ ## Strategy and Vision Crown's initial go-to-market strategy focused on serving institutional clients seeking to access Brazil's high interest rates via a "carry trade." [\[4\]](#cite-id-SUeeRDONtcmVfMo7) The company has anticipated that broader retail adoption would be a "long tail phenomenon" that follows institutional integration. [\[4\]](#cite-id-SUeeRDONtcmVfMo7)​ Co-founder John Delaney has stated that the company was founded on the belief that "a successful [stablecoin](https://iq.wiki/wiki/stablecoin) in Brazil must offer yield due to the country's high interest rates." [\[4\]](#cite-id-SUeeRDONtcmVfMo7)​ Charlie Noyes, a partner at the lead investment firm [Paradigm](https://iq.wiki/wiki/paradigm), commented on the project's structure: "Crown has meticulously crafted the most robust architecture for a tokenized real, setting them up to be the market leader. We're thrilled to partner with them as they bring the BRL on-chain and expand access to the global crypto economy in Brazil." [\[3\]](#cite-id-VWLrq7ZzwQjWYmeP)​ The company has set a long-term goal of having one trillion reais (R$1 trillion) worth of BRLV in circulation within a ten-year timeframe, which would represent a significant percentage of the total Brazilian money supply. [\[4\]](#cite-id-SUeeRDONtcmVfMo7)​