How to Build a Local Currency Stablecoin for Brazil

In this Stabledash Live interview from Stablecoin Conference LATAM 2025, we sit down with Thomaz Teixeira, CDO of BRL1, to explore how Brazil's first consortium-based stablecoin achieved top 10 crypto asset status in just 4 months.

Thomaz reveals how competing exchanges (Bitso, Mercado Bitcoin, Foxbit, CoinInvest) are working together to build a transparent, open network for Brazilian Real on-chain - and why 15% treasury yields from Brazilian government bonds create a completely different economic model than USD stablecoins.

Key Highlights:
- BRL1 became top 10 crypto trading asset in Brazil within 4 months of launch
- 15% annual yield from Brazilian government treasuries backing reserves (vs ~4% for USD)
- Consortium model with competing exchanges ensures transparent governance and diverse liquidity
- Open network approach - any exchange can join the alliance with revenue sharing built-in
- Strong regulatory relationships in Brazil dating back to 2019 when Thomaz issued first BRL stablecoin
- Primary use cases: Exchange trading, arbitrage, market making, and FX between Latin American currencies
- Brazil's PIX instant payment system created regulatory openness to digital money innovation
- Strategic partnership with Bitso Business to serve 2,000+ corporate clients across Latin America
- Not monetizing on/off-ramp spreads - revenue comes from treasury yield and future infrastructure services
- Vision: Expand beyond Brazil to work with MXNB (Mexico) and other Latin American stablecoins



About BRL1:
BRL1 is Brazil's first consortium-based Brazilian Real stablecoin, founded by a network of competing exchanges including Bitso, Mercado Bitcoin, Foxbit, and CoinInvest. Launched in late 2024, BRL1 achieved top 10 crypto asset status in Brazil within four months through an open alliance model focused on transparent governance, diverse liquidity sources, and revenue sharing among network participants.

About Stabledash Live:
Stabledash Live brings you exclusive conversations from the world's leading stablecoin conferences, diving deep into the infrastructure, regulation, and innovations shaping the future of digital money. Subscribe for more insights from Stablecoin Conference LATAM 2025 and follow the stablecoin revolution transforming global payments.

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