Parfin

Parfin is a blockchain infrastructure company that gives banks, fintechs, and financial market infrastructures the tools to custody, tokenize, trade, and settle digital assets — anchored by Rayls, a proprietary EVM-compatible public-private blockchain built for institutional compliance requirements.

What Parfin Does

Founded in 2019 and incorporated in London as Parity Financial Ltd, Parfin occupies the institutional on-ramp layer between traditional finance and on-chain markets. Its engineering focus is the compliance, privacy, and interoperability plumbing that regulated financial institutions need before they can safely operate on public blockchains. The company employs more than 90 people and built its initial client base in Brazil before expanding across Latin America and into Europe and Asia.

Its two core offerings are the Parfin Platform — a unified management interface for digital asset operations — and Rayls, the underlying blockchain network it develops and operates.

Rayls Architecture

Rayls is an EVM-compatible Layer 1 blockchain that runs two networked environments simultaneously: private, permissioned subnets for institution-internal workflows and a KYC-enforced public chain for regulated access to broader on-chain liquidity. The dual-network design is the product's main architectural distinction — it lets a bank run confidential settlement processes on a permissioned subnet while still bridging value to Ethereum and other EVM chains through Rayls' crosschain interoperability layer.

Privacy on both environments is handled by the Enygma protocol, which enables confidential yet auditable transactions. Regulators and auditors can verify transaction flows without exposing counterparty data to other market participants — a requirement for institutions operating under banking secrecy laws and financial reporting mandates.

Primary use cases Rayls is designed to support:

• Tokenized real-world assets (RWAs): Issuing and settling tokenized securities, receivables, and commodities within compliance-bound environments
• CBDCs: Central bank digital currency issuance and interbank settlement
• Cross-border FX: Programmable settlement across jurisdictions
• Institutional DeFi: Regulated access to decentralized liquidity pools from a permissioned entry point
• Intra-institution ledger management: Internal treasury and reconciliation workflows on private subnets

Parfin Platform Services

The Parfin Platform wraps Rayls infrastructure in an operational interface for treasury teams and compliance officers. Core capabilities include custody and key management for digital assets, tokenization tooling to issue and manage on-chain instruments, on-chain trading execution within compliant environments, and portfolio-level visibility across the full digital asset lifecycle.

Institutional clients include B3 Digitas (the digital asset services subsidiary of B3, Brazil's main stock exchange), Banco BV, and Núclea, a Brazilian financial market infrastructure operator. Rayls was also selected in 2024 for the Central Bank of Brazil's Drex CBDC pilot, testing EVM privacy and scalability properties for potential sovereign digital currency infrastructure.

Funding and Investors

Parfin closed a $10 million Series A in August 2024, led by ParaFi Capital with participation from Framework Ventures, L4 Venture Builder, and Núclea. Total funding at the Series A close stood at approximately $38 million across prior rounds; the round was expected to reach $16 million at full close. In November 2024, Rayls was selected to participate in J.P. Morgan Kinexys Project EPIC.

In November 2025, Tether made a strategic investment in Parfin to accelerate USDT adoption for institutional settlement, RWA tokenization, and yield-bearing credit markets across Latin America — citing nearly $1.5 trillion in annual crypto transaction volume in the region per Chainalysis 2025 data.

Team and History

Parfin was co-founded in 2019 by Marcos Viriato (CEO, senior banker and early Bitcoin adopter), Alex Buelau (CPTO, active in crypto since 2013 through mining and blockchain advocacy), and Cristian Bohn. Senior leadership also includes Bruno Cavalin (CCO, two decades in software sales to financial institutions) and CH Lopes (CDO, over 20 years of banking experience). The company is headquartered at 2 Eastbourne Terrace, London W2 6LG, and operates under the legal entity Parity Financial Ltd.

In July 2025, Parfin obtained official regulatory registration in Argentina, formalizing expansion across Latin America beyond its Brazil base.

Blockchain Focus

Parfin and Rayls are built on EVM-compatible infrastructure. Rayls' crosschain interoperability layer targets Ethereum and other EVM-compatible networks. The company's public communications and product documentation do not reference Solana integrations or deployments. Parfin's positioning in the digital asset infrastructure space is primarily oriented toward the Ethereum ecosystem and permissioned enterprise blockchains, serving institutions that require the compliance and auditability guarantees that its private-subnet model provides.