Blockchain infrastructure firm Parfin has secured $10 million in its Series A funding round, aiming to revolutionize finance in Latin America. Led by ParaFi Capital, the round also saw participation from Framework Ventures, L4 Venture Builder, and Núclea, with total funding expected to reach $16 million.

Parfin's focus lies in bridging the gap between decentralized finance (DeFi) and traditional finance (TradFi). Their custom blockchain platform, Rayls, offers financial institutions the benefits of blockchain technology – efficiency, security, and transparency – while adhering to regulatory compliance and privacy needs.

Founded in 2019, Parfin boasts an impressive track record. They were selected for Mastercard's Start Path program and currently serve clients like Banco BV, Núclea, and B3 Digitas (Brazilian Stock Exchange's digital asset arm).

The funding will accelerate Parfin's development, allowing them to further develop Rayls, expand their team, and focus on global expansion efforts, particularly in Latin America. This focus is further highlighted by their involvement in Brazil's central bank's pilot program testing Ethereum's solutions for central bank digital currencies.

Parfin's success story positions them as a key player in synchronizing DeFi and TradFi, fostering a future where financial institutions can leverage the power of blockchain technology while remaining compliant and secure.