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ECSA - Pre-Seed
Overview
Funding Date
March 9, 2023
Financing amount
$3M
Valuation
--
Catagory
Subcategory
About ECSA - Pre-Seed
Brazilian-based stablecoin issuer ECSA has raised $3 million in a Pre-Seed funding round backed by Y Combinator and Arca. ECSA will start by bringing the Brazilian Real on chain. Its BRLe stablecoin is collateralized with Brazilian Treasury Bills and is held in custody by Itau-Unibanco, which is the largest private sector bank in Brazil. The funds from the recent raise will be used to expand the footprint of its stablecoins among investors, exchanges and payment processors, the company said.
Investors
| Investors | Type | Location | Year Founded | #Portfolio Companies | Email Address | Socials |
|---|---|---|---|---|---|---|
| Fund | United States of America | 2005 | 47 | info@ycombinator.com | ||
| Fund | United States of America | -- | 20 | info@ar.ca |
Company Profile / Project Introduction
ECSA is a stablecoin issue platform that allows for easy conversion of Brazilian Real to BRLe, a fully collateralized stablecoin. The platform's market-making APIs enable real-time swapping of BRLe to USDC, allowing investors and exchanges to access the BRLe yield without worrying about liquidity issues.