Former Brazilian Central Bank Official Launches Stablecoin BRD Pegged to Real Exchange Rate

Odaily News: Former Brazilian Central Bank director Tony Volpon has launched a yield-sharing stablecoin called BRD, which is pegged to the Brazilian currency and backed by Brazilian government debt. It is reported that the token will be supported by national treasury bonds, linking its value to sovereign debt, aiming to allow holders to benefit from local interest rates. Currently, the Brazilian central bank's benchmark interest rate is 15%, while the Federal Reserve's target rate is 3.5% to 3.75%. (CoinDesk)