Former Brazil Central Bank Official Launches Yield Sharing Stablecoin

Source: CoinEdition Original Title: Former Brazil Central Bank Official Launches Yield Sharing Stablecoin Original Link: A former Brazilian central bank director has introduced a yield-bearing stablecoin designed to provide international investors with access to the country’s high-interest-rate environment. Tony Volpon announced BRD and called the token a gateway to Brazilian sovereign debt returns.

The stablecoin operates through backing by National Treasury bonds, creating a direct link between token value and government securities. Brazil’s central bank maintains a benchmark interest rate of 15%, substantially higher than the Federal Reserve’s 3.5%-3.75% target range.

Token Structure Addresses Market Access Barriers

Volpon stated the initiative aims to overcome traditional barriers preventing foreign investors from accessing Brazilian fixed-income markets. Regulatory restrictions, currency conversion friction, and domestic infrastructure limitations have historically constrained international participation despite attractive rates.

“The ability to remunerate stablecoin holders with the interest rates offered by Brazil will obviously be a major draw, especially for institutional investors,” Volpon explained. The former official suggested the stablecoin could support demand for sovereign debt.

BRD enters a market currently dominated by Transfero’s BRZ, which commands a $185 million market capitalization. Other competitors include BBRL with a $51 million market cap, BRL1 backed by Brazilian exchanges, and Celo blockchain-native cREAL.

The new token positions itself as the first real-pegged stablecoin explicitly structured to share government debt yield with holders. Brazilian startup Crown raised $13.5 million in a Series A round led by Paradigm in December for a similar yield-bearing token called BRLV. That token shows approximately $19 million worth of reals in circulation according to its dedicated website.

Brazil Maintains No Official Crypto Reserves

Brazil currently holds no official government or central bank cryptocurrency assets as of January 2026. The country has not announced any direct digital asset acquisitions or reserves through the federal government, Central Bank, or Finance Ministry.

Central Bank Governor Gabriel Galipolo and Director of Regulation Gilneu Vivan have characterized government interest in cryptocurrency primarily through regulatory frameworks. Focus areas include anti-money-laundering compliance, consumer protection, and foreign exchange oversight rather than sovereign asset accumulation.

Bill 4501/2024 proposes allocation of up to 5% of Brazil’s $330 billion foreign reserves to Bitcoin. This would represent approximately $16.5-$19 billion in Bitcoin holdings under Central Bank and Finance Ministry custody.

The bill passed the initial Chamber hearing in August 2025 and remains under committee review. It must pass four committees before reaching a full Chamber vote. No formal adoption date has been established.