Ex–Brazil Central Banker Tony Volpon Unveils BRD, a Real-Pegged Yield-Sharing Stablecoin

Overview

• BRD is pegged 1:1 to the Brazilian real and backed by National Treasury bonds, with interest from the reserves designed to pass through to token holders.
• CF Inovação is named as the issuer, with the offering aimed at institutions seeking simplified access to Selic-linked returns, though technical documentation and a launch timeline remain undisclosed.
• Volpon announced the token on Jan. 6 during the “Cripto na Real” program, framing it as a conduit for foreign investors to reach Brazil’s high-rate environment.
• Brazil’s central bank has classified stablecoin transactions as foreign-exchange operations, with the new rules set to take effect on Feb. 2, 2026.
• BRD enters a field that includes Transfero’s BRZ, BBRL and Crown’s BRLV, with Crown recently raising $13.5 million led by Paradigm for its yield-bearing real token.