Brazilian fintech Crown has raised $13.5 million in a Series A funding round led by U.S. crypto venture capital firm Paradigm, the company said in media reports. The investment marks Paradigm’s first venture into the Brazilian market and values Crown at about $90 million.
Crown will deploy the fresh capital to expand the adoption and infrastructure of BRLV, its stablecoin pegged to the Brazilian real and fully backed by highly liquid Brazilian government bonds. The digital asset is designed for institutional clients and aims to serve as a compliant on-chain representation of the national currency with transparent collateral backing.
The BRLV stablecoin has attracted significant institutional interest since its debut, amassing more than R$360 million in subscriptions, a milestone Crown says positions it as the largest emerging market stablecoin by that measure.
Paradigm’s investment reflects growing investor confidence in Latin America’s digital asset ecosystem and the potential for stablecoins to support regulated financial activities in emerging markets. Other early backers in Crown include Framework Ventures, Valor Capital Group, Coinbase Ventures and Paxos, who participated in the company’s earlier seed round.
Crown said the new funding will accelerate its efforts to scale BRLV’s institutional use cases, enhance technological infrastructure and strengthen connections between blockchain-based value transfer and Brazil’s traditional financial rails.
Read more on Tech Gist Africa:
Canopy Secures $100M to Accelerate B2B Software Consolidation in Brazil
Arvo Secures $20M Series A to Transform Healthcare Payments in Brazil
Brazilian Legal AI Startup Enter Secures $37.5 Million in Series A Funding