As exchanges Bitso, Foxbit and Mercado Bitcoin (MB),next to theCainvest,international liquidity provider, announce the market launch ofBRL1, a stablecoin paired to the real initially created to eliminate barriers in the movement of reais between domestic 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 main players in the sector.
To make the 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 clients to operate between exchanges at no additional cost, encouraging the adoption of BRL1 as the main means of moving reais in the national crypto market. Furthermore, Cainvest will increase liquidity through RFQ (Request for Quote) between BRL1-USDT and BRL1-USDC, enabling direct conversion between dollar-pegged stablecoins within the platform, quickly and efficiently.
At the time of launch, BRL1 will be operating on the Polygon blockchain, chosen for its scalability and low transaction costs. The network will enable the stablecoin to be used efficiently for both transfers between exchanges and for applications in DeFi protocols and other solutions within the crypto ecosystem.
A BRL1 is fully backed by reais and Brazilian government bonds, ensuring complete transparency and stability for its holders. Custody and tokenization are secured by Fireblocks, a global leader in digital asset security, while Pinheiro Neto Advogados acts as the project's legal advisor, ensuring regulatory compliance and robust governance.
“BRL1 is not just another stablecoin, but rather an infrastructure solution for the Brazilian market. By enabling frictionless direct transfers between exchanges, we are 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 more security and efficiency to transactions. In a scenario where there are still challenges and frictions between the crypto ecosystem and the traditional financial system, this stablecoin emerges as a catalyst for the integration of these two fronts. Our goal is to drive adoption and strengthen the sector’s infrastructure, contributing to a more accessible and reliable 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 digital asset with guaranteed liquidity, perfect for international transactions and for those seeking investments with confidence and solidity”, highlights Charles Aboulafia, CEO of Cainvest.
With an innovative profit-sharing distribution model, BRL1 also creates new opportunities for exchanges and institutional partners. The expectation is that the issued volume in 2025 will exceed R$ 50 million, with potential growth to R$ 100 million in the first year.
“Stablecoins are increasingly gaining prominence in the current financial scenario, standing out as the most efficient alternative for international investments and payments, both for end users and for companies operating in different countries. Brazil, which is already a global reference for advances in crypto regulation and the massive adoption of payment technologies such as PIX, now with a strong stablecoin pegged to the real and supported by the largest crypto companies in the country, reaches a new level in terms of development opportunities for our national market. We are very happy and proud to join forces to make BRL1 available to the entire ecosystem. This is an essential step towards democratizing access to the crypto market and boosting financial innovation in the country”, adds Bárbara Espir, Bitso Country Manager in Brazil.
In addition to the already announced partnerships, the BRL1 Consortium is still negotiating with other global exchanges interested in listing the stablecoin, further expanding its adoption and liquidity in the international market. "This movement demonstrates that there is a real demand for an efficient stablecoin aligned with the needs of the Brazilian market," says Aboulafia. The goal is to strengthen the presence of BRL1 on strategic platforms, facilitating its use in different jurisdictions and consolidating it as a reference among digital assets paired with the real.
