Stablecoin fintech company Crown completes $8.1 million seed round led by Framework Ventures
ChainCatcher reported that Brazilian stablecoin fintech company Crown has announced the completion of an $8.1 million seed round, led by Framework Ventures, with participation from Valor Capital Group, an undisclosed exchange, 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. Unlike USD-denominated stablecoins such as USDC, BRLV will offer native yield sharing to institutional partners and distribute a portion of the returns from the held government bonds to institutions.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
These Alts Bleed the Most as Bitcoin (BTC) Settles Below $82K: Weekend Watch
New York Fed warns: Service sector input and sales prices surge, significant price pressure
A survey by the New York Federal Reserve shows that service sector input costs and prices in October rose sharply, while the business activity index fell to its lowest level since March. Businesses have turned pessimistic about the outlook, with increasing inflation and interest rate pressures.
Boeing (BA.US) Max 10 certification expected to be announced next week, adding new leverage for debt relief
The Boeing 737 Max 10 has completed key certification meetings and could be approved as early as next week. As Boeing's largest variant to rival Airbus, this model will help airlines replace aging 757s and is expected to become a cash cow for Boeing to reduce its debt.
Crypto prices
More
