stBRL, issued by Tenbin AssetCo (BVI) SPC Ltd., is a tokenized debt instrument providing staked, yield-bearing economic exposure to the Brazilian Real (BRL) while the underlying base token tracks the currency through offchain hedging and onchain settlement infrastructure operated by Tenbin Labs on Ethereum [S1][S2][S3].

stBRL represents staked Tenbin Brazilian Real (tBRL), which provides delta-neutral exposure to the Brazilian Real (BRL) [S2][S4]. The base token is static and not itself yield-bearing; holders earn yield only by depositing tBRL into an ERC4626 vault, receiving a staking token whose share price appreciates as rewards are minted to the staking pool [S2][S3]. Yield derives from onchain collateral returns net of hedge financing costs plus institutional carry, is not guaranteed, and may be modified or discontinued [S5][S3].

Tokens are issued through Tenbin AssetCo (BVI) SPC Ltd., a British Virgin Islands segregated portfolio company using a bankruptcy-remote framework that isolates each portfolio's assets from Tenbin Labs' operations [S1][S6]. The holder's claim is a direct, unconditional, unsecured debt obligation of the relevant issuer portfolio, characterized as a debenture, and is not a deposit, stablecoin, or fund interest [S1][S7]. Direct minting and redemption require onboarding, wallet screening, and KYC/KYB, and are unavailable in the United States and a broad excluded-jurisdiction list aligned with the FATF framework [S8][S9]. Approved users redeem onchain in stablecoins via the Controller contract; staked positions require a cooldown and unstake flow [S2][S10][S3].

stBRL is issued onchain on Ethereum using a custom ERC4626 staking vault, with the base token following the EVM ERC-20 standard [S8][S3][S11]. Minting and redemption are processed atomically by a Controller contract against stablecoin collateral, settling onchain, with an Oracle Adapter and Chainlink supplying 24/7 FX pricing as a backstop against off-peg execution [S10][S2].

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    { id: "S1", url: "https://docs.tenbinlabs.xyz/legal-and-transparency/legal-and-regulatory.md" },
    { id: "S2", url: "https://docs.tenbinlabs.xyz/product/what-is-a-tenbin-asset.md" },
    { id: "S3", url: "https://docs.tenbinlabs.xyz/solution-overview/staking.md" },
    { id: "S4", url: "https://docs.tenbinlabs.xyz/solution-overview/key-trust-assumptions.md" },
    { id: "S5", url: "https://docs.tenbinlabs.xyz/solution-overview/protocol-revenue.md" },
    { id: "S6", url: "https://docs.tenbinlabs.xyz/legal-and-transparency/trust-and-transparency.md" },
    { id: "S7", url: "https://docs.tenbinlabs.xyz/resources/general-disclosure.md" },
    { id: "S8", url: "https://docs.tenbinlabs.xyz/tenbin-overview/what-is-tenbin.md" },
    { id: "S9", url: "https://docs.tenbinlabs.xyz/legal-and-transparency/geographic-restrictions.md" },
    { id: "S10", url: "https://docs.tenbinlabs.xyz/solution-overview/minting-and-redemption.md" },
    { id: "S11", url: "https://docs.tenbinlabs.xyz/solution-overview/core-addresses.md" },
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Tokenized funds

Tenbin issues liquid, composable asset tokens (e.g., Tenbin Gold) that reference underlying market exposure through a mix of off-chain hedging and on-chain settlement; staked variants accrue yield.

Tenbin is an on-chain asset tokenization protocol that brings liquid real-world assets — precious metals, yield-bearing currencies, and other commodities — on-chain for use in DeFi. It combines on-chain settlement with off-chain hedging, pricing, and yield-generation infrastructure.

Tenbin Labs builds and operates the Tenbin tokenization protocol.

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Real-world asset (RWA) issuers

Tenbin Labs

Staked Tenbin Brazilian Real (stBRL) is a tokenized fund share issued by Tenbin Labs through Tenbin AssetCo (BVI) SPC Ltd.

Each token is a direct claim on the issuer.

The fund is open-ended, invests in Latin America, and keeps its assets in accounts segregated within a bankruptcy-remote structure.

Professional investors and institutions can subscribe and redeem in tBRL, and holders have a right to redeem at net asset value.

Tenbin AssetCo (BVI) SPC Ltd. is incorporated in the British Virgin Islands.

Holder terms are governed by the law of Delaware in the United States.

stBRL has been issued on Ethereum as an ERC-4626 token since June 2026.

Staked Tenbin Brazilian RealstBRL

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