Crypto VC Paradigm bets $13.5 million on stablecoin startup Crown in first Brazil investment

Premier crypto VC firm Paradigm has made its first investment in Brazil, committing $13.5 million in a Series A funding round for stablecoin startup Crown, valuing the company at $90 million. Crown is the creator of BRLV, a stablecoin pegged to the Brazilian real (BRL) that is fully backed by Brazilian government bonds and has become the world's largest emerging market stablecoin. Paradigm partner Ricardo de Arruda cited Crown's leadership and its early success in scaling liquidity as key factors. Crown co-founder John Delaney explained that their architecture was designed to address two issues in the Brazilian market: providing yield (unlike Tether) due to Brazil's high interest rates (currently 15%), and offering institutional-grade safety and security. Currently, BRLV, which has over R$360 million in subscriptions, is exclusively for institutional customers seeking exposure to Brazilian interest rates, though the firm anticipates future retail growth.

(Source：The Block)