Exchanges Bitso, Foxbit, and Mercado Bitcoin (MB), alongside Cainvest, an international liquidity provider, announce the market launch of BRL1, a stablecoin pegged to the real (BRL), initially created to eliminate barriers in moving real-denominated funds between national and international exchanges, making the Brazilian market much more liquid and attractive. Developed through an unprecedented consortium among the four companies, BRL1 arrives as the most efficient and accessible way to transfer reais between crypto platforms in Brazil and abroad, offering speed, liquidity, and integration among the sector’s key players.
To make integration even smoother, the consortium exchanges will list BRL1 in the BRL1/BRL pair with no transaction fees, ensuring free conversions between the stablecoin and the real. This will allow customers to transact between exchanges without additional costs, encouraging BRL1 adoption as the primary means of moving reais in the national crypto market. Additionally, Cainvest will enhance liquidity through Requests for Quote (RFQ) between BRL1-USDT and BRL1-USDC, enabling direct conversions between dollar-backed stablecoins on the platform quickly and efficiently.
At launch, BRL1 will operate on the Polygon blockchain, chosen for its scalability and low transaction costs. The network will allow the stablecoin to be used efficiently for both inter-exchange transfers and DeFi protocol applications, among other crypto ecosystem solutions.
BRL1 is fully backed by reais and Brazilian government bonds, ensuring complete transparency and stability for holders. Custody and tokenization are secured by Fireblocks, a global leader in digital asset security, while Pinheiro Neto Advogados serves as legal counsel, ensuring regulatory compliance and robust governance.
“BRL1 is not just another stablecoin but an infrastructure solution for the Brazilian market. By enabling direct, frictionless transfers between exchanges, we’re creating a more efficient and integrated ecosystem for all participants,” says Fabrício Tota, VP of New Business at Mercado Bitcoin.
“The creation of BRL1 is a milestone for the Brazilian crypto market, bringing greater security and efficiency to transactions. In a scenario where challenges and friction still exist between the crypto ecosystem and the traditional financial system, this stablecoin emerges as a catalyst for integrating these two fronts. Our goal is to drive adoption and strengthen the sector’s infrastructure, contributing to a more accessible and trustworthy environment,” says Ricardo Dantas, CEO of Foxbit.
“BRL1 aims to build a more integrated and accessible digital asset market for Brazilians and global investors, offering a stable, secure, and liquid digital asset—perfect for international transactions and those seeking confident, solid investments,” highlights Charles Aboulafia, CEO of Cainvest.
With an innovative profitability distribution model, BRL1 also creates new opportunities for exchanges and institutional partners. The expectation is for the issued volume in 2025 to exceed R$ 50 million, with growth potential up to R$ 100 million in the first year.
“Stablecoins are gaining increasing prominence in today’s financial landscape, standing out as the most efficient alternative for international investments and payments—both for end users and companies operating in different countries. Brazil, already a global reference for its progress in crypto regulation and the mass adoption of payment technologies like PIX, now reaches a new level of development opportunities for our domestic market with a strong real-pegged stablecoin backed by the country’s leading crypto firms. We are thrilled and proud to join forces in bringing BRL1 to the entire ecosystem. This is an essential step in democratizing access to the crypto market and driving financial innovation in the country,” adds Bárbara Espir, Country Manager of Bitso in Brazil.
Beyond the announced partnerships, the BRL1 Consortium continues negotiating with other global exchanges interested in listing the stablecoin, further expanding its adoption and liquidity in the international market. “This movement shows there is real demand for an efficient stablecoin aligned with the needs of the Brazilian market,” says Aboulafia. The goal is to strengthen BRL1’s presence on strategic platforms, facilitating its use across jurisdictions and establishing it as a benchmark among real-pegged digital assets.
