Stablecoin fintech company Crown completes $8.1 million seed round led by Framework Ventures

ChainCatcher reported that Brazilian stablecoin fintech company Crown has announced the completion of an $8.1 million seed round, led by Framework Ventures, with participation from Valor Capital Group, an undisclosed exchange, 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. Unlike USD-denominated stablecoins such as USDC, BRLV will offer native yield sharing to institutional partners and distribute a portion of the returns from the held government bonds to institutions.