On December 8, Paradigm announced in a statement on Monday that it had invested $13.5 million in a Series A round for stablecoin startup Crown, which valued the company at $90 million. Notably, this is Paradigm’s first investment in the Brazilian market. Ricardo de Arruda, Paradigm’s Investment and Research Partner and a native of Brazil, stated that Crown’s leadership team and their previous experience in fintech and institutional client services were key factors in Paradigm’s decision to make this its first investment in Brazil. Crown is the issuer of the BRLV stablecoin, which is pegged to the Brazilian real (BRL). Crown claims its token has become the largest emerging market stablecoin globally. BRLV is fully backed by Brazilian government bonds.
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Paradigm invests $12 million in Crown, the issuer of the Brazilian Real stablecoin
On December 8, Paradigm announced in a statement on Monday that it had invested $13.5 million in a Series A round for stablecoin startup Crown, which valued the company at $90 million. Notably, this is Paradigm’s first investment in the Brazilian market. Ricardo de Arruda, Paradigm’s Investment and Research Partner and a native of Brazil, stated that Crown’s leadership team and their previous experience in fintech and institutional client services were key factors in Paradigm’s decision to make this its first investment in Brazil. Crown is the issuer of the BRLV stablecoin, which is pegged to the Brazilian real (BRL). Crown claims its token has become the largest emerging market stablecoin globally. BRLV is fully backed by Brazilian government bonds.