Crown, a São Paulo–based fintech focused on programmable money in emerging markets, has raised $8.1 million in seed funding to launch BRLV, a stablecoin pegged to the Brazilian real (BRL) and fully backed by Brazilian government bonds. 

The round was led by Framework Ventures, with participation from Valor Capital Group, Coinbase Ventures, Norte Ventures, Paxos, and Ed Wible, co-founder of Nubank, who is also joining Crown’s board.

The funding will accelerate Crown’s product development and market expansion as it seeks to become Brazil’s leading BRL stablecoin issuer. BRLV differs from dollar-denominated stablecoins like USDC by offering native revenue sharing to…

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