what's BRL1?

BRL1 is a stablecoin pegged 1:1 to the Brazilian Real (BRL), providing a digital representation of the currency for seamless use in crypto trading, DeFi, payments, and cross-border transactions. It bridges traditional finance and blockchain by enabling frictionless transfers between platforms without banking intermediaries, with interoperability planned for systems like PIX and Brazil's CBDC DREX. Issued by a consortium of leading Latin American crypto exchanges and institutions—Mercado Bitcoin, Foxbit, Bitso, and Cainvest—BRL1 is backed by reservations of Brazilian government bonds held in regulated financial institutions. Regular external proof-of-reserves audits ensure transparency and maintain the 1:1 peg. Available on Polygon for efficient, low-cost operations, it supports institutional-grade liquidity and compliance-focused integrations via API.

BRL1 is one of five BRL-pegged tokens cited in Dune Analytics and Visa stablecoin reports.

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