Parfin Secures $10 Million Series A Funding to Enhance Digital Assets Infrastructure

Parfin Secures $10 Million in Series A Funding to Expand Digital Assets Infrastructure

Parfin, a pioneering company specializing in digital assets infrastructure, has successfully raised an initial $10 million in a Series A investment round, with expectations to increase this figure to $16 million by the conclusion of a subsequent closing. The newly acquired funds will be directed towards the enhancement of its enterprise-grade blockchain platform, Rayls, as well as the recruitment of additional personnel and support for its global expansion efforts, particularly in key regions such as Asia, Latin America, and Europe.

CEO and co-founder Marcos Viriato expressed enthusiasm about the funding, stating, “With this new capital, we can assist a greater number of banks and financial institutions in unlocking new revenue streams and maintaining their relevance in a rapidly evolving market by harnessing the efficiency, security, and transparency offered by digital assets.”

The funding round was spearheaded by ParaFi Capital, with notable participation from crypto investment firms such as Framework Ventures, L4 Venture Builder, and Núclea. To date, Parfin has successfully raised a total of $38 million, including a previous funding round in January 2023, which garnered $15 million and was also led by Framework Ventures.

Among Parfin’s esteemed clients are B3 Digitas, the digital asset services arm of B3, Brazil’s prominent stock exchange, as well as Banco BV, one of the largest financial institutions in Brazil.

Rayls, which was launched in June 2024, is an innovative EVM blockchain system designed to integrate both permissioned and public blockchains, specifically tailored for enterprise-grade applications. This cutting-edge product is geared towards facilitating crucial initiatives, including:

• Financial instrument tokenization projects
• Development of central bank digital currencies (CBDCs)
• Intra-institutional transactions

Notably, Parfin has reported that Rayls is currently being utilized in the official pilot program conducted by the Central Bank of Brazil as part of its efforts to launch a national CBDC.