Brazilian Digital

Brazilian Digital (BRZ) is a stablecoin designed to track the value of the Brazilian Real (BRL), meaning each token is intended to hold a value of approximately one BRL. It is aimed at Brazilian residents and institutions who want to move, trade, or hedge BRL exposure across international cryptocurrency exchanges without converting to a foreign currency first. The project describes itself as the first stablecoin backed by Brazilian Reais, positioning it as a bridge between Brazil's domestic currency and the broader digital-asset ecosystem.

BRZ is issued against Brazilian Real reserves held by the issuer, and holders can redeem tokens at a 1% discount back into BRL within Brazil, according to the project description. The token exists across multiple blockchains including Ethereum, BNB Chain, Solana, Avalanche, Polygon, and Algorand, and the network data records Ethash as its associated consensus algorithm. Because the peg mechanism is custodial and reserve-backed rather than algorithmic, the integrity of the peg depends on the issuer maintaining sufficient BRL reserves to match the circulating supply of 271,741,334.635647 tokens.

The data stored for BRZ does not include a protocol fee stream, so the fee-based measures tracked on this site are not applicable here. The project description notes a 1% redemption discount charged when holders convert tokens back to BRL in Brazil, which represents a cost to the redeemer rather than an ongoing protocol revenue mechanism in the way decentralized protocols might collect fees. The fully diluted valuation equals the market capitalization, with an fdv_to_mcap ratio of 1.0 at this point in time, reflecting that virtually all supply — 99.994586% — is already in circulation, leaving a dilution overhang of 0.0%.