Parfin

Parfin is a Brazilian fintech company that provides institutional-grade blockchain infrastructure and operates Rayls, an EVM-compatible Layer 1 blockchain purpose-built for banks, fintechs, and financial market infrastructures — with a public mainnet launched in April 2026 and cross-chain connectivity to Solana and over 120 other networks.

What Parfin Does

Founded in 2019 by Marcos Viriato (CEO), Alex Buelau (CPTO), and Cristian Bohn, and incorporated in London as Parity Financial Ltd, Parfin addresses the compliance and interoperability gap that separates regulated financial institutions from public blockchain markets. The company built its initial client base in Brazil before expanding across Latin America and into Europe and Asia, and employs more than 90 people.

Its two core offerings are the Parfin Platform — a unified digital asset management system — and Rayls, the underlying blockchain infrastructure it develops and operates.

The Parfin Platform

The Parfin Platform is a digital assets core banking system that enables regulated institutions to launch cryptocurrency and digital asset services without vendor lock-in. It operates as an integrated stack of eight modules: a multi-ledger account system spanning virtual, private, and public ledgers; treasury management with consolidated positions and KYT screening; a transfer engine for internal, fiat, and on-chain payments; brokerage infrastructure routing across 20 or more exchanges and market makers; governance and approval workflows enforcing segregation of duties; compliance tooling with transaction monitoring and audit reporting; an agnostic connectivity layer; and a legacy system integration bridge. The result is a single interface that orchestrates traditional finance and Web3 operations simultaneously, deployable in weeks rather than months.

Rayls: Institutional EVM Layer 1

Parfin's second major product is Rayls, an EVM Layer 1 blockchain designed specifically for institutional finance. Rayls launched its public mainnet on April 30, 2026, offering verifiable sub-second finality, low gas fees, and full EVM compatibility — meaning institutions can deploy existing Solidity-based contracts without modification.

The architecture is built around institutional privacy. Rayls' Sovereign Privacy Nodes allow banks to mint, transfer, and manage tokenized deposits within a private EVM-compatible environment while maintaining balance sheet integrity. The Rayls Enigma protocol enables cross-border FX settlement by moving value from tokenized deposit to stablecoin and back in seconds rather than days. Public and permissioned environments are unified in a single ecosystem: a bank can operate a private subnet for confidential settlement while still accessing broader on-chain liquidity via the public chain.

Three primary use cases drive adoption: tokenized deposits (banks issuing fiat on-chain), yield-bearing asset vaults that let suitable investors earn yield with public blockchains as secondary markets, and cross-border FX payments via private settlement. The native RLS token launched alongside the public mainnet and includes a burn mechanism linking network transaction volume to token economics.

Brazil's Drex CBDC Pilot

Rayls' privacy architecture was selected for Brazil's Drex CBDC initiative, a digital Real project led by the Banco Central do Brasil. Rayls participated in the LIFT Challenge, a program the central bank uses to stress-test new business models on Drex infrastructure. Nuclea, a Brazilian financial market infrastructure operator processing approximately 29 billion transactions annually, is both an investor in Parfin and a production partner on Rayls. J.P. Morgan's Kinexys division deployed on Rayls and independently assessed its privacy architecture as part of Project EPIC, a J.P. Morgan initiative exploring enterprise privacy and identity solutions for institutional blockchain use.

Funding and Partnerships

Parfin raised a $10 million Series A in August 2024, led by ParaFi Capital with participation from Framework Ventures, L4 Venture Builder, Valor Capital, and Nuclea. The round was expected to reach $16 million at second closing, with funds directed at Rayls development and expansion across Asia, Latin America, and Europe.

In November 2025, Tether made a strategic investment in Parfin to accelerate USDT adoption for institutional settlement across Latin America, targeting global transactions, RWA tokenization, and yield-bearing credit markets such as trade finance receivables and commercial receivables. Banco Bradesco, one of Brazil's largest banks, began piloting stablecoin-based cross-border payments and trade settlements with Parfin in January 2025. XP Inc. and Nuclea use Rayls to issue stablecoins. AmFi signed a $1 billion AUM partnership agreement with milestones of $100 million by July 2026 and $500 million by January 2027.

In March 2026, Mastercard added Rayls to its Crypto Partner Program alongside Polygon, Ripple, Stellar, and Solana — placing the chain in a select group recognized by a major global payment network as qualified institutional digital asset infrastructure. Parfin's FX desk is migrating approximately $400 million in monthly foreign exchange volume onto Rayls beginning in Q3 2026.

Cross-Chain Interoperability and Solana

Rayls partnered with LayerZero, the cross-chain messaging protocol, to connect its private institutional subnets with more than 120 public blockchain networks. The integration enables banks operating on Rayls to move stablecoins, CBDCs, and tokenized deposits to Solana, Ethereum, TON, and other major networks in real time. Pilot programs with select financial institutions were planned to begin in 2025, targeting the elimination of the liquidity gap between permissioned private systems and public decentralized markets. Institutional flows routed through Parfin's FX desk can reach Solana via this LayerZero integration.

The Mastercard Crypto Partner Program inclusion further ties the Rayls and Solana ecosystems together within a shared institutional payments framework: both networks are recognized by Mastercard as qualified infrastructure for digital asset settlement, enabling institutional flows to potentially bridge between them through Mastercard's payment rails.

Team

Parfin was co-founded 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) and CH Lopes (CDO). The company is headquartered at 2 Eastbourne Terrace, London, and operates under the legal entity Parity Financial Ltd with offices in Rio de Janeiro and São Paulo. In July 2025, Parfin obtained official regulatory registration in Argentina, formalizing expansion beyond its Brazil base.

Ecosystem Position

Parfin occupies the institutional on-ramp layer between regulated financial markets and public blockchain infrastructure, including Solana. For banks and fintechs exploring Solana as a settlement or liquidity venue, Parfin's combination of compliance tooling, private subnet infrastructure, and LayerZero-powered cross-chain connectivity provides the regulatory and operational scaffolding required to move regulated capital on-chain. The company's combined partner network reaches over 200 million end-users across its institutional clients.