BRL Anchor on Stellar

nTokens is proud to be part of Stellar Network. We share Stellar's goal towards equitable access to financial system, and our interaction with Stellar Development Foundation brought to light our common values and principles. Our BRL stablecoin is live, in production since December 2019.

As Anchors, what nTokens do?

We issue BRL tokens on Stellar Network. Our tokens are backed by Brazilian Reais.

We bridge Stellar network to the Brazilian banking system. By allowing interoperability among Stellar applications and local banking rails. Services built on Stellar thus can more reliably offer BRL nominated products to their customers.

In order to do so, nTokens must keep a thorough equivalence between values held on For every BRL token on chain, there is always a fiat BRL deposited on a reserve account. Reserves custodian being a regulated bank, and funds being in either cash availability or in strictly liquid treasury deposits. This account is segregated, nTokens not being the beneficiary. Holders can safely know that even in a case of discontinuity of nTokens operations the equivalence of funds is preserved.

Another import aspect will be verifiability of funds. Outstanding tokens can be are easily verified on Stellar network. As to BRL reserve funds, initially this happens through static informational pages. We plan to soon move to API-triggered live data feed of account balance and movements of BRL. Platforms integrated to nTokens have additional API direct access to information from custodian institution.

We work hard to focus in delivering a great interoperability service; users should have a smooth on/off ramp experience. As we integrate different platforms we will make sure we constantly improve service in terms of speed and transparence.

We invite all readers to know more about Stellar Network, their technology, and mission.