The crypto exchanges Bitso, Foxbit, and Mercado Bitcoin (MB),  together with Cainvest, an international liquidity provider, announced the launch of BRL1, a stablecoin  pegged to the Brazilian real. Initially created to eliminate barriers in the movement of Brazilian real values  between national and international exchanges, BRL1 aims to make the Brazilian market much more liquid  and attractive. Developed through a pioneering consortium among the four companies, BRL1 emerges as  the most efficient and accessible way to transfer Brazilian reais between cryptocurrency platforms in  Brazil and abroad, offering speed, liquidity, and integration among the key players in the sector. 

To make integration even smoother, consortium exchanges will list BRL1 in the BRL1/BRL pair without  transaction fees, ensuring free conversions between the stablecoin and the Brazilian real. This will allow  customers to trade between exchanges at no additional cost, encouraging the adoption of BRL1 as the  primary method for moving reais in the domestic crypto market. Additionally, Cainvest will boost liquidity  through RFQ (Request for Quote) between BRL1-USDT and BRL1-USDC, enabling direct conversion  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 enable the stablecoin to be used efficiently for both transfers between exchanges  and applications in DeFi protocols and other solutions within the crypto ecosystem. 

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 serves as the project's legal advisor, ensuring regulatory  compliance and strong governance. 

"BRL1 is not just another stablecoin but an infrastructure solution for the Brazilian market. By enabling  direct and frictionless transfers between exchanges, we are creating a more efficient and integrated  ecosystem for all participants," said Fabrício Tota, Vice President of New Business at Mercado Bitcoin. 

"The creation of BRL1 is a milestone for the Brazilian cryptocurrency market, bringing more security and  efficiency to transactions. In a scenario where there are still challenges and friction between the crypto  ecosystem and the traditional financial system, this stablecoin emerges as a catalyst for integrating these  two fronts. Our goal is to boost adoption and strengthen the sector's infrastructure, contributing to a more  accessible and reliable environment," said Ricardo Dantas, CEO of Foxbit. 

"BRL1 aims to build a more integrated and accessible digital asset market for Brazilian and global  investors, offering a stable, secure, and liquid digital asset, perfect for international transactions and those  seeking investments with confidence and solidity," said Charles Aboulafia, CEO of Cainvest. 

With an innovative profit distribution model, BRL1 also creates new opportunities for exchanges and  institutional partners. It is expected that the volume issued in 2025 will exceed R$ 50 million, with the  potential to grow to R$ 100 million in the first year. 

"Stablecoins are gaining more and more prominence in today's financial scenario, 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 advances in cryptocurrency  regulation and the massive adoption of payment technologies like PIX, now reaches a new level with a  strong stablecoin linked to the real and backed by the country's largest cryptocurrency companies. We  are very happy and proud to join forces to make BRL1 available to the entire ecosystem. This is an  essential step to democratize access to the cryptocurrency market and drive financial innovation in the  country," said Bárbara Espir, Country Manager of Bitso in Brazil. 

In addition to the partnerships already announced, the BRL1 Consortium is negotiating with other global  exchanges interested in listing the stablecoin, further expanding its adoption and liquidity in the  international market. "This move demonstrates that there is real demand for an efficient stablecoin  aligned with the needs of the Brazilian market," said Aboulafia. The goal is to strengthen BRL1’s  presence on strategic platforms, facilitating its use in different jurisdictions and consolidating it as a  benchmark among digital assets linked to the Brazilian real.