Stablecoin issuer ECSA completes $3 million Pre-seed funding round, with participation from Y Combinator and others

ChainCatcher news, Brazil-based stablecoin issuer ECSA has completed a $3 million pre-seed funding round, with participation from Y Combinator, Arca, and others.

It is reported that ECSA will first issue the Brazilian real stablecoin on the blockchain. Its BRLe stablecoin is backed by Brazilian treasury bonds and is custodied by Brazil's largest private bank, Itau-Unibanco. BRLe has been issued on the Stellar network and will be issued on the Ethereum mainnet. (source link)