According to Odaily, Parfin, a financial firm specializing in cryptocurrency and blockchain, has announced the creation of a new platform named Rayls. The platform aims to enhance the privacy of Brazil's Central Bank Digital Currency (CBDC), drex. The solution is designed to operate on a permission basis, where each account interacting with the system is required to go through a Know Your Customer (KYC) process.
In addition to this, the platform includes a public chain, Rayls, which can interact with Ethereum L2 and other open cryptocurrency projects. Parfin suggests that this duality could potentially alleviate the integration of regulated entities such as banks and other institutions from the traditional financial world with the DeFi sector.
