Former Brazil Central Bank official Tony Volpon announced BRD, a stablecoin pegged to Brazil’s currency that shares interest earned from its government bond reserves with holders. The product enters a market where Brazil’s benchmark Selic interest rate stands at 15%, the highest level since July 2006. Volpon’s company CF Inovação will issue BRD, targeting large financial institutions seeking access to Brazil’s high-yield government debt through a digital token structure. The announcement came during th ...

Tony Volpon, a former director at the Central Bank of Brazil, unveiled BRD, a yield-sharing stablecoin tied to the Brazilian currency and backed by Brazilian government debt. Speaking on the “Cripto na Real” program on CNN Brasil, Volpon said the token will be backed by National Treasury bonds, linking its value to sovereign debt and aiming to give holders exposure to local interest rates. The central bank's benchmark interest rate is 15%, compared with the Federal Reserve's target of 3.5%-3.75%. Volpon ...