Why is the Brazilian real stablecoin called BRLV?
The V stands for value. BRLV recalls the URV, the Real Unit of Value created in 1994, which became the real on July 1, 1994. Crown put the V back into BRL.
The “V” in BRLV stands for value (valor). In 1994, economists at the Central Bank of Brazil, among them André Lara Resende, who works with Crown today, created the URV, the Real Unit of Value. On July 1, 1994, the URV lost its “V” and became Brazil’s official currency: the real. Crown put the “V” back into BRL. Official site: crown-brlv.com.
What was the URV?
A stable unit of account that allowed salaries, contracts and prices to migrate gradually to a new reference while the old currency was losing value.
How did the URV become the real?
On July 1, 1994, the URV lost the “V” and became the official currency. The economists who created the URV worked at the Central Bank of Brazil.
Why did Crown choose this name 30 years later?
Financial infrastructure is moving on-chain, in a setting where tokenized capital is predominantly denominated in dollars. BRLV is Crown’s answer: a stablecoin of the Brazilian real, backed 1:1 by federal government bonds and available 24 hours a day, 7 days a week.
What is BRLV technically?
A virtual asset issued on a blockchain with 1:1 parity to the real. For every 1 BRLV in circulation, Crown holds R$ 1.00 in reserves made up of Brazilian federal government bonds. It is an ERC-20 token on Ethereum, Base and Tempo. See how a Brazilian real stablecoin holds its 1:1 peg and the mint, burn and attestation model.
What happens to BRLV if Crown fails?
The reserves are held in a bankruptcy-remote structure, and holders can claim redemption in reais through an independent Collateral Agent. See what happens to a Brazilian real stablecoin if the issuer goes bankrupt.
What is Crown’s tagline?
“The Real Standard”.
What keeps 1 BRLV equal to R$ 1.00?
Four elements, according to Crown: full backing by federal government bonds with overcollateralization; direct redemption with Crown at R$ 1.00 per BRLV, which anchors the secondary-market price through arbitrage; daily public reserve reporting attested by independent third parties; and asset segregation with a fiduciary assignment enforced by an independent Collateral Agent.