Parfin Creates Privacy Solution for Brazil’s CBDC Rayls

Parfin, a financial company focusing on cryptocurrency and blockchain, announced the creation of a new platform called Rayls, aimed at enhancing the privacy of Brazil's central bank digital currency (CBDC) drex. The solution can operate in a licensed manner, where each account that interacts with the system needs to go through the KYC process.

This platform also includes the Rayls public chain, which can interact with Ethereum L2 and other open cryptocurrency projects. Parfin pointed out that this duality may alleviate the integration of regulated entities such as banks and other institutions in the traditional financial world with the DeFi field.