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Date: 17/12/2024
As 2024 comes to a close, Parfin has plenty to celebrate.
From raising $10 million in funding to earning the ABcripto Compliance Seal and launching Rayls, we’ve established ourselves as a leader in Brazil's and Latin America's burgeoning crypto market. We’ve positioned ourselves as the ideal partner for banks and financial institutions embarking on the digital asset journey.
One of our major innovations this year was the launching of Rayls, a blockchain ecosystem compatible with the Ethereum Virtual Machine (EVM) and designed specifically to meet institutional needs.
Rayls’ privacy solution is already being put to the test in one of Brazil's flagship projects, Drex - the the digital Real developed by the Brazilian Central Bank. It was also featured in the "Lift Challenge", a program led by the Central Bank to encourage new business models using Drex.
Internationally, Rayls was selected by Kinexys by J.P. Morgan (formerly Onyx) to participate in Project EPIC, an innovative initiative exploring privacy and identity solutions for financial institutions.
“Our aim is to create an ecosystem where all components of the system can communicate securely and privately, without violating each country’s legislation. Our ultimate goal is for the Rayls ecosystem to become a global standard for institutional Web3 adoption”.
Parfin’s technology is designed to enable financial institutions to provide secure, streamlined access to crypto for their clients. Major partners have joined the blockchain revolution with us, including B3 Digitas, Bitso, Banco BV, Núclea, and NG.CASH.
One notable partnership is with NG.CASH, a financial services company focused on younger generations. Since February, Parfin has been helping the fintech bring cryptocurrencies to Gen Z by creating a transactional platform in record time. This solution ensures reliability and facilitates NG.CASH clients' crypto transactions seamlessly.
Success stories like these demonstrate our expertise in creating tailored solutions that meet the demands of financial institutions and fintechs. Throughout 2024, Parfin shared its learnings and exchanged insights at some of the world’s largest industry events, including Token2049, Febraban Tech, and Merge Madrid.
Our CEO and Co-founder, Marcos Viriato, participated in numerous panels and debates on the future of digital finance. For instance, he shared how blockchain technology can be used for tokenization to optimize vehicle financing - a project currently underway with banco BV and CCONSENSUS.
These experiences also resonated on prominent platforms such as Blockaffee, Fintech Talos, and conversations hosted by ABcripto and Núclea.
The technological advancements were matched by strong investor support. In August, Parfin raised $10 million in Series A funding to enhance our blockchain infrastructure.
The round was led by ParaFi Capital, with participation from Framework Ventures, L4 Venture Builder, and Núclea. The total investment could reach $16 million by the second closing. These funds will be used to further develop Rayls, attract top talent, and accelerate global growth.
“With this new investment, we can help more banks and institutions unlock new revenue streams and stay relevant by leveraging the efficiency, security, and transparency of digital assets" .
Building on our success in Brazil and Latin America, Parfin will continue advancing in 2025. Key initiatives include updates to the Parfin Platform, the most comprehensive and advanced digital asset solution for banks and fintechs to offer customized crypto access to their clients.
We’re also working to optimize our robust infrastructure, enabling businesses to conduct international payments via stablecoins - a faster and more cost-effective alternative to the traditional SWIFT system.
All these initiatives align with regulatory compliance in various countries, promoting best practices in governance and compliance. It’s no coincidence that Parfin earned the ABcripto Compliance Seal in 2024, recognizing companies that adhere to market regulations and exemplary conduct.
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