CoinDesk••1 min read
Brazil: Ex-Central Banker Launches BRL-Pegged Stablecoin with Yield
The Arch TakeNeutral
A former official from Brazil's central bank has introduced a new stablecoin pegged to the Brazilian real (BRL). According to reports, the stablecoin will be backed by Brazil's National Treasury bonds. The stablecoin aims to provide users with exposure to the country's interest rate, which is currently at 15%. The development offers a new avenue for investors seeking to interact with the Brazilian currency while potentially earning yield.
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