PANews reported on August 14 that Parfin, a crypto infrastructure company focused on enterprise-level blockchain development, raised $10 million in the first round of its Series A financing. The financing was led by ParaFi Capital, with participation from Framework Ventures, L4 Venture Builder and NĂșclea. Parfin plans to raise another $16 million through the second round of Series A financing, bringing the total financing to $38 million.
Founded in 2019, Parfin will use the funds to continue developing its customized Rayls network and expand to global markets, especially Latin America. Rayls is a permissioned EVM blockchain for enterprise application scenarios such as tokenization, central bank digital currency (CBDC), and inter-institutional transactions. All accounts are subject to KYC compliance requirements while maintaining user privacy and connecting to the DeFi world through the Rayls public chain.
The blockchain is currently participating in the Brazilian Central Bankâs CBDC pilot and was selected for Mastercardâs Start Path program in May. In addition, Parfin also provides stablecoins, fiat currency deposits and withdrawals, and crypto brokerage services.
