Stablecoin fintech company Crown has completed a $8.1 million seed round financing, led by Framework Ventures

ChainCatcher news, Brazilian stablecoin fintech company Crown announced the completion of a $8.1 million seed round financing, led by Framework Ventures, with participation from Valor Capital Group, Coinbase Ventures, 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. It is reported that unlike dollar-pegged stablecoins like USDC, BRLV will provide native yield sharing to institutional partners and distribute a portion of the income from the government bonds it holds to those institutions.