In a strategic financing move, Paradigm led a $13.5 million Series A round for Crown, valuing the Brazilian fintech upstart at about $90 million. The deal underscores rising investor appetite for stablecoins pegged to local fiat, backing Crown’s expansion and product integration.

This investment represents Paradigm‘s inaugural foray into the Brazil market, with research partner Ricardo de Arruda citing Crown’s leadership and experience in fintech and institutional client services as decisive factors.

Crown is the issuer of the BRLV stablecoin, pegged to the Brazilian Real (BRL). Crown maintains that BRLV is the largest stablecoin in emerging markets, and the token is described as fully backed by Brazilian government bonds.