The new blockchain arrives in the market focused in solving longstanding concerns around privacy, scalability and interoperability that prevented financial institutions from fully using blockchain technology
LONDON, June 20, 2024 /PRNewswire-PRWeb/ -- Rayls, a new blockchain system has launched today, enabling financial institutions to make full use of blockchain technology to innovate and thrive in the digital era. This unique EVM blockchain aims to connect permissioned and permissionless ecosystems, combining the robustness of traditional finance (TradFi) with the transformative potential of decentralised finance (DeFi).
Rayls introduces the concept of UniFi, the combination of TradFi (Traditional Finance) and DeFi (Decentralised Finance) with a focus on enterprise-grade privacy, scalability, interoperability and decentralisation.
With Rayls, institutions can implement the tokenisation of financial and real-world assets (RWA), simplify cross-border and intra-institutional settlements and soon utilise DeFi protocols in a compliant manner. "By building a new solution focussed on the needs of global financial institutions, Rayls aims to champion the best of both the TradFi and DeFi worlds to accelerate the blockchain's benefits across the entire finance industry." says Alex Buelau, co-Founder of Parfin, the company that developed the initial version of Rayls.
Selected by Mastercard Start Path Program and Endorsed by Industry Leaders
Rayls' innovative approach has garnered significant industry recognition, including being a runner-up at the 'Tech Sprint' program sponsored by the G20 and BIS (Bank of International Settlements) in India in 2023, and the recent selection by the prestigious Mastercard 'Start Path Blockchain and Digital Assets program'.
Collaborations with the Central Bank of Brazil
Rayls is actively collaborating with the Central Bank of Brazil, which is testing the system as a private and scalable EVM solution for its Central Bank Digital Currency (CBDC) initiatives. It highlights Rayls' potential to streamline payment processes, reduce costs, and enhance financial inclusion.
Rayls is a both public permissionless and private permissioned system
The Rayls system is composed of the Rayls Public Chain, an Ethereum Layer 2 solution secured by Ethereum (currently in testnet stage), as well as a sophisticated system of private permissioned Subnets that use Zero Knowledge (ZK) and Homomorphic cryptography to enable transactions between counterparties in complete privacy, while offering high throughput and scalability.
The connection between Rayls' Private Subnets and Public Chain creates a fully interoperable network that combines enterprise-grade security and compliance with the flexibility of an open, permissionless EVM blockchain, ensuring a safe and transparent environment for all participants.
Empowering Financial Institutions with Rayls
Rayls offers a robust, scalable infrastructure that enables financial institutions to build and manage advanced use cases, including:
- Tokenisation of Financial and Real-World Assets (RWA): Develop tokenised financial products to enhance efficiency, open new business opportunities, and maintain privacy and compliance.
- Cross-border Payments: Deploy faster cross-border FX payment solutions with full transaction privacy, real-time settlement, and optimised liquidity.
- Secure Real-time Settlements: Ensure secure, transparent, and efficient transaction processes across networks.
Future-Ready Financial Services
"Rayls is redefining the future of finance by providing a unified blockchain ecosystem that meets the evolving needs of financial institutions", said Marcos Viriato, CEO and co-Founder of Parfin, the initial developer of Rayls. "Rayls offers the perfect blend of traditional finance privacy, safety and compliance with decentralised finance innovation, enabling institutions to achieve operational efficiency, optimise liquidity, and drive growth."
About Rayls
Rayls is a blockchain infrastructure provider dedicated to revolutionizing the financial industry with its unique UniFi blockchain ecosystem. Built by a multidisciplinary team of ex-bankers, cryptographers, and engineers, Rayls combines the strengths of TradFi and DeFi, enabling financial institutions to innovate, grow, and thrive in the digital age. Rayls strives to swiftly deliver solutions that solve real-world problems for major financial institutions worldwide, with a focus on rapid production deployment. Contact Rayls at [email protected].
Media Contact
Tess Pawlisch, Needle PR, 1 (608) 333-9788, [email protected]
SOURCE Rayls
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