Paradigm announced a $13.5 million investment in the Brazilian stablecoin project Crown, marking its first entry into the Brazilian market. The post-investment valuation is approximately $90 million. Crown issues the BRLV, a Brazilian real stablecoin that is 100% backed by Brazilian government bonds. The team claims it has become the world’s largest emerging market stablecoin, with current subscriptions exceeding 360 million reals (about $66 million), mainly offering institutional clients exposure to interest rate returns. Paradigm stated that BRLV leads in liquidity within the BRL stablecoin sector and has strong network effects, expressing optimism about its long-term growth potential. (The Block)

CROWN-1.73%
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