Former Brazilian central bank official unveils real-pegged, revenue-sharing stablecoin BRD

Tony Volpon, a former director of the Central Bank of Brazil, has unveiled a revenue-sharing stablecoin pegged to the Brazilian real called BRD, Coindesk reported. The stablecoin is backed by Brazilian government bonds and is structured to provide exposure to the country's current benchmark interest rate of 15%. Volpon stated that the goal is to give foreign and institutional investors easier access to Brazil's high-interest-rate environment. He also explained that the project is expected to reduce government borrowing costs by increasing demand for the bonds. BRD is the first real-pegged stablecoin to explicitly feature a revenue-sharing structure, distinguishing it from existing competitors like BRZ and BBRL.