TechFlow news, on August 14, according to The Block, Parfin, a crypto infrastructure company focused on Ethereum Layer 2 development, raised $10 million in the first close of its Series A round, with an additional $16 million expected in follow-on funding. The round was led by ParaFi Capital, with participation from Framework Ventures, L4 Venture Builder, and Núclea.
Founded in 2019, Parfin plans to use the funds to further develop its Rayls network and expand into global markets, particularly Latin America. Rayls is a permissioned EVM blockchain designed for enterprise applications such as tokenization, central bank digital currencies (CBDCs), and institutional trading. The system requires all accounts to comply with KYC regulations while preserving user privacy, and enables connectivity with the DeFi ecosystem via the Rayls public chain. Rayls is currently participating in the Central Bank of Brazil’s CBDC pilot, has been selected for Mastercard's Start Path program, and is supported by Accenture Ventures. Parfin also offers stablecoin, fiat on-off ramp, and crypto brokerage services. To date, the company has raised a total of $38 million.
