Paradigm Invests $13.5 Million in the Brazilian Real Stablecoin Issuer Crown
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BlockBeats News, December 8th, Paradigm announced on Monday that it has invested $13.5 million in funding in stablecoin startup Crown's Series A round, valuing the company at $90 million.
It is worth noting that this is Paradigm's first investment in the Brazilian market. Paradigm's investment and research partner, Brazilian Ricardo de Arruda, stated that Crown's leadership team and their past experience in fintech and institutional client services were key factors in Paradigm's decision to make it their first investment in Brazil.
Crown is the issuer of the BRLV stablecoin, which is pegged to the Brazilian Real (BRL). Crown has stated that its token has become the largest stablecoin in emerging markets worldwide. BRLV is fully backed by Brazilian government bonds.
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