BRLA Digital

BRLA puts the Brazilian real onchain, issued by Avenia, a Sao Paulo fintech that rebranded from BRLA Digital as it grew into cross-border payments across Latin America. Each token targets one real, backed one-for-one by reserves held in the currency, and holders can redeem at par with the issuer, which plugs directly into Brazil's instant-payment system Pix to move between fiat and stablecoin. The company reported moving more than a billion dollars of volume in a year and raised a Series C to expand its rails, positioning BRLA less as a speculative asset than as plumbing for converting reais to and from dollar stablecoins like USDC and USDT. It circulates on Polygon, Celo, Moonbeam and Gnosis. Brazil's central bank has yet to finalize dedicated stablecoin rules, so BRLA operates ahead of a framework that is still taking shape.