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# Proof of Reserves

What backs BRD, where it is held, and how to check the 1:1 claim yourself.

Every BRD in circulation is matched 1:1 by reserves held for that purpose and no other.

## What the reserves are

Reserves are held entirely in **Brazilian Treasury LFTs** — short-duration sovereign bonds that float with the policy rate. Nothing else: no basket, no other stablecoins, no credit.

LFTs are registered and held directly at the Brazilian Central Bank. BRD Digital purchases them through a qualified bank — currently **Genial** — into an account segregated from BRD Digital's operating capital. A problem in the operating company is not a claim on the reserve assets.

Reserves are not lent, not rehypothecated, and not used for proprietary positions.

## How to check it

"Every token is backed" is a claim anyone can make. Both sides of it are published, from different sources, so you can check it rather than take it on trust.

<table><thead><tr><th width="220">Number</th><th>Where it comes from</th></tr></thead><tbody><tr><td><strong>Tokens in circulation</strong></td><td>The blockchain. Readable by anyone, at any time, without asking BRD Digital.</td></tr><tr><td><strong>Reserves held</strong></td><td>The consolidated position statement from the bank holding the reserve, published at <a href="https://brd.digital/proof-of-reserves">brd.digital/proof-of-reserves</a>.</td></tr></tbody></table>

If the model holds, the second covers the first.

{% hint style="info" %}
The published position reflects holdings as of its issue date. Check the date on the document.
{% endhint %}

## Related pages

* [Stablecoin](/brd-digital-docs/stablecoin.md) — the asset these reserves back
* [Yield](/brd-digital-docs/yield.md) — where the return on the reserve goes


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