brl1

Stablecoin BRL1 linked to the Brazilian real debuts in the market

Stablecoin BRL1 linked to the Brazilian real debuts in the market
BRL1 was launched, the first stablecoin backed by both reais and Brazilian government bonds. The news was announced here on BeInCrypto last October.
Developed by a consortium that includes Bitso, Foxbit, and Mercado Bitcoin in partnership with Cainvest, the digital asset arrives with the promise of revolutionizing the local crypto market. BRL1 commits to improving liquidity, efficiency, and security in transactions.
The creation of BRL1 is a milestone for the Brazilian crypto market, bringing more security and efficiency to transactions. In a scenario where there are still challenges and frictions between the crypto ecosystem and the traditional financial system, this stablecoin emerges as a catalyst for the integration of these two fronts. Our goal is to drive adoption and strengthen the infrastructure of the sector, contributing to a more accessible and reliable environment, says Foxbit CEO, Ricardo Dantas.
BRL1: the Brazilian stablecoin with state backing that promises to redefine the crypto market
BRL1 emerges as a fully backed stablecoin, pegged 1:1 to the Brazilian real (BRL), offering a reliable digital representation of the local currency. The token's purpose is to enable fast and secure transactions within the crypto ecosystem.
Additionally, the stablecoin aims to eliminate barriers in the transfer of value between national and international exchanges. Reducing costs and increasing the integration of the digital financial market are also part of the crypto product's plans.
Performance of BRL1 in the last week. Source: Bitso
Brazil open to crypto
Brazil has seen several stablecoin initiatives emerge in recent years. In 2024, for example, Mercado Livre launched the Meli Dollar for Brazilian customers. Meanwhile, other companies like BRLA, PicPay, Circle, Chainlink, and NUM Finance have also developed their own digital currencies linked to the real.
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📢 BRL1 Has Arrived: Now You Can Have the Stability of the Real... on the Blockchain! 😂🇧🇷

Guess what, Brazil: they created a stablecoin pegged to the real and backed by... Brazilian Government bonds! Because if there’s one thing that inspires trust and stability, it’s the real — the same one that loses purchasing power every time the president sneezes. LOL

🔹 BRL1, the stablecoin that doesn't know if it's Web3 or SELIC 13%

It is the result of the union of the crypto giants Mercado Bitcoin, Bitso, Foxbit, and the international Cainvest. The promise? To eliminate friction between exchanges, facilitate the transfer of reais, bring liquidity, and — of course — put the real on the blockchain as if it were a disruptive innovation.

🔹 Backed by government bonds

Yes, friends. If the National Treasury shakes, your BRL1 will also wobble. But don't worry, there’s governance, there’s Fireblocks, there’s a lawyer with a nice name (lol). In other words: trust! Or almost.

🔹 On Polygon, of course!

Because paying fees on Ethereum is so 2021. And if it's to launch a national stablecoin, let it be on a cheap, fast network, and... well, that Brazilians don’t use that much, but marketing will appreciate it.

🔹 BRL1/BRL pair with no fees

Finally, you can exchange your real for a digital real... without paying for it! Now that’s a financial revolution. Because nothing says "future of the economy" like converting real into... real.

🔹 Guaranteed liquidity (via RFQ, of course)

You can exchange BRL1 for USDT or $USDC , but only if you ask for it nicely (and liquidity on the other side). It’s almost DeFi, just with intermediaries — shhh, don’t tell anyone.

📉 Conclusion?

If you’ve always dreamed of holding digital real on the blockchain, your moment has arrived. And if inflation hits? Relax, it’s backed by the same government that prints the original. 🤡

🧠 Now, indeed: Digital Real, just semi-tokenized, with Web3 marketing and no Copom.

So, are you going to mint your first real with a taste of crypto? 😂💸

#brl1 #CriptoBR #tomint