QR Capital Founders Exit, Ushering in New Era for Brazilian Crypto Firm
In a significant shift for the Brazilian cryptocurrency landscape, QR Capital, a prominent holding company in the sector, has announced a shareholder restructuring. Founders João Paulo Mayall and Fernando Carvalho, who collectively held 39% of the company, are stepping down.
Control of QR Capital will now transition to investors with extensive experience in traditional financial markets. This transition has been planned for over a year, according to sources.
Established in 2018, QR Capital has become a key player in the Brazilian crypto market. Its holdings include QR Asset Management, the manager of QBTC11, Latin America’s first Bitcoin ETF; Vórtx QR Tokenizadora, a participant in the CVM’s regulatory sandbox; and BlockTrends, an educational platform that developed the CCA®, the first crypto asset certification in Latin America, in partnership with ANCORD and FGV.
João Paulo Mayall’s Pioneering Contributions
João Paulo Mayall is recognized as a pioneer of Bitcoin in Brazil. He commented on the change, stating:
“The exit reflects the maturation of the crypto sector and its integration into the financial market. QR Capital is prepared for a new cycle of growth.”
Mayall departs QR Capital after his fifth “exit” – the sale of stakes in various projects. His track record includes the sale of an advertising company, the Orlando City soccer club, and crypto ventures such as SingularityNET and Foxbit (via QR Capital), with three projects exceeding R$1 billion in valuation.
During his time at QR Capital, he served as COO, CMO, and most recently, CEO of BlockTrends.
Mayall played a crucial role in launching QBTC11, the first Bitcoin ETF in Latin America, as well as the QETH11 (Ethereum), QDFI11 (DeFi), and QSOL11 (Solana) ETFs.
He also facilitated the first 100% crypto fund in Brazil, without an offshore vehicle, an innovative regulatory move under CVM instruction 555 that has become standard in the market.
At BlockTrends, Mayall created an e-learning platform and crypto asset courses in collaboration with B3.
His collaboration with ANCORD led to the CCA®, the Ancord Crypto Asset Certification Program, with exams administered by FGV.
He also provided consulting services for ANBIMA certifications and led CryptoFinance studies with FGV, reinforcing QR Capital’s commitment to financial education. “Education is not just talk. We have developed several platforms that empower investors and professionals,” he emphasized.
Bitcoin and the Brazilian Market: Future Outlook
With over a decade of experience in the crypto market, Mayall predicted the institutional adoption of Bitcoin. “My departure validates this vision. What seemed daring five years ago is now a consolidated reality,” he said.
On X, (@jpmayall), his macroeconomic and on-chain data analyses are widely respected. He projects that Bitcoin will reach between US$170,000 and US$600,000 by the end of the current cycle, based on market trends.
Regarding Brazil, Mayall praised the regulatory efforts. “The CVM and the Central Bank, with innovative regulations, are positioning Brazil as a global crypto asset hub. The country is prepared to lead advances with Bitcoin and blockchain technologies,” he stated.
New Ventures Ahead
Mayall is now exploring new opportunities and is being sought after by companies interested in his expertise. With an investment horizon of 4 to 6 years, he intends to focus on projects that combine technology and financial impact.
The departure of Mayall and Carvalho marks a new chapter for QR Capital, which, under new shareholder leadership, is expected to accelerate its integration into the global financial market. This transition underscores the maturity of the crypto sector in Brazil, characterized by years of innovation and regulatory progress.
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