Parfin, a prominent player in digital asset infrastructure, has announced a successful $10 million Series A funding round, with expectations to elevate the total to $16 million upon the conclusion of a subsequent closing phase. This capital influx is earmarked for the augmentation of Parfin’s enterprise-grade blockchain, Rayls, and to bolster its staffing and international expansion efforts, particularly in Asia, Latin America, and Europe.

“With this infusion of capital, we are positioned to empower more banks and financial institutions to unlock new revenue streams and maintain their competitive edge through the enhanced efficiency, security, and transparency afforded by digital assets,” remarked Marcos Viriato, CEO and co-founder of Parfin.

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The funding round, spearheaded by ParaFi Capital, also saw participation from notable entities including crypto investment firm Framework Ventures, L4 Venture Builder, and Núclea. To date, Parfin has amassed a total of $38 million in funding, following a prior $15 million round in January 2023, which was also led by Framework Ventures.

Parfin’s clientele encompasses notable names such as B3 Digitas, a digital asset services arm of B3, the Brazilian stock exchange, and Banco BV, one of Brazil’s leading financial institutions.

Launched in June 2024, Rayls is an Ethereum Virtual Machine (EVM) blockchain platform designed to integrate both permissioned and public blockchains, offering solutions tailored for enterprise needs. Its applications range from financial instrument tokenization and central bank digital currency (CBDC) development to intra-institutional transactions.

Notably, Rayls is currently employed in the official pilot program by the Central Bank of Brazil for the launch of its CBDC, underscoring its pivotal role in advancing digital currency initiatives.