PANews reported on December 8th that crypto venture capital firm Paradigm announced a $13.5 million investment in Brazilian stablecoin company Crown, valuing the company at approximately $90 million. This marks Paradigm's first investment in Brazil. Crown stated that its stablecoin BRLV, pegged to the Brazilian Real (BRL), has become "the world's largest emerging market stablecoin" and is fully backed by Brazilian government bonds, currently valued at approximately 360 million reais (about $66 million).

BRLV primarily targets institutional clients, allowing investors to earn high interest rates (approximately 15%) in Brazil by holding the stablecoin. Paradigm states that Crown has established a strong scale effect and is poised for rapid expansion in Brazil.