Savings & Value Accrual

Crown is the infrastructure fintech that set the institutional standard for the Brazilian Real on-chain. We combine regulatory rigor and cutting-edge technology to deliver BRLV: the digital BRL where balances accrue value, backing is always in Brazilian government bonds, and our bankruptcy-remote structure that guarantees holders direct legal rights on the reserves. Under the new regulatory framework in Brazil, Crown is a virtual asset service provider – like all VASPs in Brazil, we are in the process of licensing with the Brazilian Central Bank and currently operate under the Central Bank’s grandfathering regime.

BRLV is Crown's stablecoin, pegged 1:1 to the Brazilian Real and designed as the institutional settlement standard for Brazil’s digital economy. Its reserves consist entirely of federal government bonds, the safest and most liquid assets in the market. We have established a global benchmark for legal certainty: we are the world's first stablecoin to hold reserves in a bankruptcy-remote structure and to guarantee holders direct, enforceable access to the reserves assets via a collateral agent in the event of issuer insolvency.

BRLV maintains a 1:1 parity with the Brazilian Real and is 100% backed by Brazilian government bonds. Reserves are custodied at financial institutions regulated by the Brazilian Central Bank. The reserves assets are pledged within the Brazilian Central Bank system to holders of BRLV through a third-party Security Agent, and remain legally separated from Crown’s assets.. If Crown’s operations were interrupted for any reason (including Crown’s bankruptcy), the reserves would remain untouched and BRLV holders would activate the Security Agent to receive BRL from the reserves.

A common question among stablecoin holders globally is: if the issuer of the stablecoin goes bankrupt, could the issuer’s creditors take some of the reserves assets to satisfy the issuer’s debts to them? If the answer is “yes” or “maybe,” then the stablecoin’s parity depends on the issuer’s solvency.  If the answer is “no,” then the reserves are “bankruptcy-remote”. Crown’s reserves are bankruptcy-remote: the structure holding the reserves is designed with sufficient legal separation from Crown that it would not be affected by any potential insolvency proceedings affecting Crown.

BRLV is the most trusted stablecoin in Brazil in part because we operate with maximum transparency. Our issuance and reserve figures – which are published on our website – are confirmed every business day through public, third-party audits. Our third-party reserves attestation reports are available on our website.

Yes. Crown operates in strict compliance with Brazilian regulatory guidelines. In full compliance with Law No. 14.478/2022 and the Brazilian Central Bank’s implementing regulations, we are in the process of filing for authorization to operate as a Virtual Asset Service Provider (VASP) in the broker-dealer modality. In the meantime, we are operating under the Brazilian Central Bank’s grandfathering regime for VASPs.

BRLV reserves are audited daily, with updated information published daily on the Transparency page of our website. The attestation reports provided by third-party auditors are also available on this page.

Crown establishes a new standard of trust by combining a bankruptcy-remote architecture with collateral 100% subject to sovereign risk. Unlike other issuers, our asset segregation structure grants BRLV holders an enforceable legal right over the reserves backing the token, eliminating counterparty risk. Stablecoin holders are represented by a collateral agent, who will enforce the collateral in the event of issuer insolvency.

The "V" stands for value. In 1994, a group of economists at the Brazilian Central Bank — among them André Lara Resende, today a strategic advisor at Crown — created the URV, the Unidade Real de Valor, or Real Unit of Value. It wasn't a new currency, but a stable unit of account that enabled the gradual migration of wages, contracts, and prices to a new reference point while the old currency collapsed. On July 1, 1994, the URV shed its "V" and became Brazil's official currency: the real.

Thirty years later, we stand at a new inflection point: the migration of financial infrastructure to the on-chain environment. In a landscape where tokenized capital is predominantly dollar-denominated, the Brazilian economy faces the risk of digital dollarization — a real threat to the monetary sovereignty of emerging markets.

BRLV is the answer: a Brazilian real stablecoin, backed 1:1 by federal government securities, with automatic value accrual and 24/7 availability. We put the "V" back in BRL.