{"investigation":{"slug":"brla","entity_name":"BRLA","trust_score":62,"severity_base":null,"score_modifier":0,"confidence":0.4,"status":"published","content_type":"investigation","summary":"BRLA is a Brazilian real-pegged stablecoin issued by Avenia (formerly BRLA Digital), a Brazilian fintech. No enforcement actions, hacks or fraud allegations were found in the sources reviewed, but reserve attestations and the issuer's regulatory authorization could not be independently verified from primary sources.","sections":[{"content":"BRLA is described as a stablecoin pegged 1:1 to the Brazilian real, available on networks including Polygon, Celo and Gnosis. According to Brazil Journal (9 February 2026), the issuer began as a crypto asset manager, returned client money in 2023, and then founded BRLA Digital; it was rebranded Avenia in 2025 while the stablecoin kept the BRLA name. Co-founder and CEO is Matheus Moura and COO is Leandro Noel. The same article reports a US$17 million round co-led by Quona Capital and Big Bets, and says Avenia processed over US$1 billion in the prior year.","heading":"Overview and issuer","sources":[{"url":"https://braziljournal.com/swift-killer-a-rodada-da-avenia-a-emissora-da-maior-stablecoin-em-real/","name":"Brazil Journal - Avenia round","type":"news_article","credibility":2},{"url":"https://avenia.io/brla","name":"Avenia BRLA page (issuer)","type":"official","credibility":3}],"severity":"low"},{"content":"Brazil Journal reports that the Central Bank of Brazil's new rules for virtual asset service providers (PSVA) had just taken effect, with a reported minimum capital of R$24.3 million for firms that intermediate and custody crypto assets. A secondary search summary indicated Avenia filed an authorization request with the Central Bank, but the year and a primary source were not verified. Whether Avenia is currently authorized could not be confirmed.","heading":"Regulatory status","sources":[{"url":"https://braziljournal.com/swift-killer-a-rodada-da-avenia-a-emissora-da-maior-stablecoin-em-real/","name":"Brazil Journal - Avenia round","type":"news_article","credibility":2}],"severity":"medium"},{"content":"Aggregators describe BRLA as backed by audited fiat reserves, but this is the issuer's and aggregators' claim; no independent attestation was reviewed. Brazil Journal cites CoinGecko for circulation of about US$7.5 million, while other aggregators report market caps in the tens of millions of dollars, so the figures are inconsistent. The token is small relative to major stablecoins, which implies liquidity risk.","heading":"Reserves, size and transparency","sources":[{"url":"https://braziljournal.com/swift-killer-a-rodada-da-avenia-a-emissora-da-maior-stablecoin-em-real/","name":"Brazil Journal - Avenia round","type":"news_article","credibility":2},{"url":"https://defillama.com/stablecoin/brla-digital","name":"DefiLlama BRLA Digital stablecoin page","type":"research","credibility":2},{"url":"https://coingecko.com/coins/brla-digital-brla","name":"CoinGecko BRLA Digital BRLA","type":"other","credibility":3}],"severity":"medium"},{"content":"Searches for lawsuits, fraud or scam allegations tied to BRLA or BRLA Digital returned no relevant results. This is an absence of findings in a limited search, not a clearance.","heading":"Legal and enforcement history","sources":[{"url":"https://braziljournal.com/swift-killer-a-rodada-da-avenia-a-emissora-da-maior-stablecoin-em-real/","name":"Brazil Journal - Avenia round","type":"news_article","credibility":2}],"severity":"low"}],"timeline":[{"date":"2023","event":"Founders returned client money from their prior crypto asset management business and founded BRLA Digital; first round of US$700k.","source":"Brazil Journal","source_url":"https://braziljournal.com/swift-killer-a-rodada-da-avenia-a-emissora-da-maior-stablecoin-em-real/"},{"date":"2025","event":"BRLA Digital rebranded as Avenia; the stablecoin kept the BRLA name.","source":"Brazil Journal","source_url":"https://braziljournal.com/swift-killer-a-rodada-da-avenia-a-emissora-da-maior-stablecoin-em-real/"},{"date":"2026-02","event":"Avenia reported a US$17 million round co-led by Quona Capital and Big Bets.","source":"Brazil Journal","source_url":"https://braziljournal.com/swift-killer-a-rodada-da-avenia-a-emissora-da-maior-stablecoin-em-real/"}],"sources_used":[{"url":"https://braziljournal.com/swift-killer-a-rodada-da-avenia-a-emissora-da-maior-stablecoin-em-real/","name":"Brazil Journal - Avenia round","type":"news_article","credibility":2},{"url":"https://defillama.com/stablecoin/brla-digital","name":"DefiLlama BRLA Digital stablecoin page","type":"research","credibility":2},{"url":"https://avenia.io/brla","name":"Avenia BRLA page (issuer)","type":"official","credibility":3},{"url":"https://coingecko.com/coins/brla-digital-brla","name":"CoinGecko BRLA Digital BRLA","type":"other","credibility":3}],"source_tags":[],"addresses":[],"reviewed":false,"reviewed_by":null,"model_used":"claude-code-investigator","created_at":"2026-11-08T12:09:59.211159+00:00","updated_at":"2026-11-08T12:10:05.497+00:00"},"source_quality":{"total":4,"tier1":0,"tier2":0,"tier3":0,"unrated":4},"follower_count":null,"content_updated_at":"2026-11-08T12:09:59.566Z","last_fact_checked_at":null,"fact_check_next_allowed_at":null,"update_next_allowed_at":null}