Government bonds · TESOURO

TESOURO: Brazilian government bonds with Etherfuse

Brazilian government debt · Brazilian reais (BRL)

Hold and transfer this Etherfuse token in Lex.

What is the underlying investment?

Brazil finances itself partly through government securities. The Tesouro Direto retail program offers different return structures, including Selic-linked, fixed-rate, and inflation-linked bonds. The chosen security and its maturity determine how a direct investment behaves.

TESOURO is Etherfuse’s token for Brazilian government debt exposure in reais. It is a separate product from a personal Tesouro Direto account. Do not assume it reproduces a specific Tesouro Selic, Prefixado, or IPCA+ security: review the token’s current backing and terms with Etherfuse.

Why access can take extra steps

Tesouro Direto already makes local investing accessible online and with small amounts. Opening an eligible account and selecting the right security can be straightforward for a Brazilian resident. The harder part for someone using a wallet or living across borders is coordinating local registration, funding, custody, and currency conversion.

Etherfuse makes this exposure available as a token. Lex lets you keep supported TESOURO holdings alongside your currencies and transfer them, with control of the wallet that holds them.

What Etherfuse adds

Etherfuse creates Stablebonds backed by government debt. The token provides economic exposure to the backing assets under the issuer’s terms; Etherfuse handles the underlying investment and custody arrangements. Lex is the app where you manage the supported token in your self-custodial wallet.

Self-custody means you control the wallet holding the token. The underlying securities still rely on Etherfuse and its custodians. Read the product documents, reserve information, eligibility rules, and redemption terms before investing. A token transfer, a market sale, and redemption with the issuer are different operations.

Issuer or protocol: Etherfuse
Network: Base
Token contract: 0x7ceE47e7B7CD04CF984e8Dd86C42595B5771A9B2

How value works

The token’s value reflects the underlying portfolio and accrued returns, rather than a fixed one-unit currency peg. Rates and portfolio values change. A market quote may differ from the issuer’s net asset value (NAV), and a yield shown today is not a guaranteed future return.

What to consider

Consider sovereign credit, interest rates, currency movements, issuer and custodian performance, smart contracts, and available trading liquidity. Selling can realize a loss, and fees and taxes reduce the amount you keep. This is an investment, not an insured bank deposit. Verify the network and contract shown on this page before transferring tokens; the same symbol on another network is not interchangeable.

An example to think through

Suppose you earn in dollars but plan to spend in Brazil. TESOURO has BRL exposure, which is relevant to that future spending, but its dollar value also moves with the exchange rate. A higher quoted BRL yield alone does not establish a better dollar return. Compare the holding period, total conversion costs, and how you would exit before choosing an amount.

Using Lex with this Etherfuse token

Download Lex, open Government bonds, and choose the token to see your supported holdings. To receive tokens, use your Lex address on the network shown on this page and match the token contract. You can hold and transfer the tokens in the same wallet as your currencies.

Lex does not currently provide buy or sell quotes for this bond. For purchases or redemptions through Etherfuse, review the product page linked below, including eligibility, available networks, and current terms. A transfer to Lex does not sell or redeem the token.

Sources and documentation

Information reviewed October 4, 2026.