Cloak Says Its Technology Powers Brazilian Real Stablecoin

Cloak says its technology powers a Brazilian real stablecoin ($BRS) launched with Norafinance, adding a privacy-focused use case for on-chain transactions tied to the Brazilian currency.

Cloak describes BRS as designed for private transactions and calls it Brazil’s first private stablecoin.

Separately, stablecoin-linked card plans from Stripe and Plasma are planned to support five fiat currencies: the U.S. dollar, Brazilian real, euro, Mexican peso and Colombian peso.