Cointime

Cointime

Download App
iOS & Android
Home / Point

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.

DeFi
Comments

All Comments

Recommended for you

  • OpenAI responds to Musk's lawsuit: The application is repeated and still unfounded

    recently Musk requested a US court to block OpenAI, an artificial intelligence research center, from illegally transforming into a for-profit enterprise. A spokesperson for OpenAI said that Musk's application is repetitive and still baseless.

  • Musk says SpaceX could be worth more than $1 trillion

    a netizen posted on social media platform X claiming that there are 9 companies in the world with a market value exceeding one trillion US dollars, of which 8 are American companies. In response, Musk replied that SpaceX may one day become one of them.

  • South Korea postpones cryptocurrency tax again until 2027

    at today's press conference, Park Chan-dae, the leader of the largest opposition party in South Korea, the Democratic Party of Korea, announced that they will abandon their plan to implement a cryptocurrency capital gains tax in 2025 and agree to postpone it for another two years until 2027. The proposal to "delay the cryptocurrency capital gains tax" was put forward by the South Korean government and the ruling party, the People Power Party. The Democratic Party of Korea previously stated that delaying taxation was a political trick of the ruling party.

  • Japan's Financial Services Agency proposes relaxing reserve requirements for trust banks to issue stablecoins and implementing travel rules

    the Japanese Financial Services Agency (FSA) recently presented some ideas regarding cryptocurrencies and stablecoins to the Financial System Committee's Payment Services Working Group. It was mentioned that the FSA is unwilling to allow banks outside of trust banks to issue stablecoins. As for stablecoins issued by trust banks, the FSA hopes to relax the reserve requirements that currently mandate all assets be held in the form of bank deposits. However, the FSA also hopes to implement travel rules that require KYC for transfers of stablecoins issued by trust banks.

  • Japan’s Financial Services Agency proposes lightweight legislation for non-exchange crypto intermediaries

    Japan is considering new lightweight legislation for cryptocurrency intermediaries that are not cryptocurrency exchanges. Recently, the Japanese Financial Services Agency (FSA) presented its own ideas to the Payment Service Working Group of the Financial System Committee.

  • EU report recognizes potential of permissionless blockchain in traditional finance

    the EU recently released a report exploring the potential of permissionless blockchains in traditional finance (TradFi). The report suggests that permissionless blockchains should at least be considered as an option for traditional finance and financial market infrastructure, but should be used with caution.

  • Former Coinbase CTO: Visa and Mastercard and other tech giants have received threats of "censorship" due to their relationship with Libra

    the impact of Operation Chokepoint 2.0 has expanded from the cryptocurrency industry to technology giants such as Visa and Mastercard. Balaji Srinivasan, former CTO of Coinbase, shared a screenshot of a letter sent by US legislators to Visa, Mastercard, and Stripe urging them to withdraw their support for the Libra project backed by Meta.

  • Coinbase CEO: Anti-money laundering policy is a failure

    Coinbase CEO Brian Armstrong stated on the X platform that anti-money laundering (AML) regulations are a failed policy that costs approximately $213 billion annually and harms the interests of legitimate consumers (as seen in multiple bank de-risking events), and according to United Nations data, only prevents about 0.2% of illegal activities. This sounds like a job that should be handled by the Government Efficiency Department (DOGE).

  • Vitalik: I don’t agree with the way the US government efficiency department pays too much attention to the government’s handling of small spending mistakes

    Vitalik Buterin, co-founder of Ethereum, responded to the content of the US government's small expenditure mistakes released by the Department of Government Efficiency (DOGE), stating that he does not agree with the department's handling method. The examples cited only account for a small portion of the total expenditure. If the government's optimization goal is to avoid mistakes that look bad on Twitter, it will miss many valuable opportunities, and those large-scale projects that actually waste more will continue to exist because they look decent. For small-scale public funds, a venture capital (VC)-like approach should be taken, accepting a large number of possible mistakes, as its goal is to ensure that opportunities that can bring 1,000 times return can be seized. Prudence should be focused on large-scale transactions.

  • DeFi TVL exceeds $95 billion again

    According to defillama data, as of May 18, 2024, the total value locked (TVL) in DeFi has once again surpassed $95 billion. It is currently reported at $95.069 billion, an increase of nearly $12 billion from the low point of $83.04 billion 35 days ago. Among the top five protocols in terms of TVL, Eigenlayer has the highest 30-day increase, with TVL rising by 19.67% to a total of $15.455 billion.

Daily Must-Read

Popular Activities

Delysium $AGI & AI Private Yacht Party

Delysium $AGI & AI Private Yacht Party

March 27 - March 27
Seoul

Popular Tags

Cointime
News
Contents
RSS
Company