Former Brazilian central bank officials launch stablecoin BRD, backed by Brazilian government bonds

According to CoinDesk, former director of the Central Bank of Brazil, Tony Volpon, announced the launch of the Brazil government bond-backed stablecoin BRD, offering an interest rate of about 15% similar to the Brazilian real.

The issuance of the stablecoin BRD aims to boost demand for Brazilian government bonds and reduce the borrowing costs for the Brazilian government.