- The report from Kinexys by J.P. Morgan (formerly known as Onyx by J.P. Morgan) explores privacy in an institutional landscape showcasing Rayls’ privacy solution as one of the featured proof-of-concepts. Rayls’ privacy solution protected sensitive data on-premise, with end-to-end encryption and Merkle root attestations enabling confidential interactions.
- Rayls’ modular architecture was also highlighted, enabling cross-blockchain transactions and allowing participation in multiple markets without sacrificing security or privacy.
- Rayls fulfils the criteria outlined by Kinexys by J.P. Morgan in the report including KYC/AML and Suitability attestation, confidential smart contract logic and confidential token type.
London, UK, Nov. 12, 2024 (GLOBE NEWSWIRE) -- - Kinexys by J.P. Morgan (formerly known as Onyx by J.P. Morgan), the firm’s blockchain business unit selected Rayls to participate in Project EPIC – exploring privacy and identity solutions for institutions. Read the report. In Parfin’s implementation, the Rayls platform showcased a secure and compliant system for global, institutional transactions.
In Rayls’ proof of concept (POC), the following benefits were shown:
- Privacy by Design: Privacy ledgers protected sensitive data on-premise, with end-to-end encryption and Merkle root attestations enabling confidential interactions.
- Regulatory Compliance: Integrated with AML/KYC and suitability frameworks through attestation services, ensuring trust and meeting institutional requirements.
- Interoperability and Scalability: The modular architecture supported cross-chain transactions via atomic teleport protocol, allowing participation in multiple markets without sacrificing security or privacy.
“Rayls represents a paradigm shift in the way banks can securely and efficiently transact and we are looking forward to further developing solutions that contribute to the future of banking.” said Marcos Viriato, Co-Founder CEO of Parfin.
“Enterprise-grade privacy and digital identity solutions are critical to unlock benefits of tokenization meaningfully and at scale,” said Nikhil Sharma, Head of Growth, Kinexys Digital Assets.
Rayls is built on the foundational principles of privacy, security, and governance, providing a comprehensive system that empowers banks to transact privately and with confidence. By seamlessly integrating these elements, Rayls not only meets the current needs of financial institutions, but it is also able to advance and strengthen existing systems today as technology continues to innovate. With a commitment to international expansion, Rayls aims to leverage its unique capabilities to support banks and other financial entities around the world in navigating the complexities of digital asset management.
For more information about Rayls and its innovative solutions, visit https://www.rayls.com. To read the full report from Kinexys by J.P. Morgan visit https://www.jpmorgan.com/kinexys/documents/JPMC-Kinexys-Project-Epic-Whitepaper-2024.pdf.
ENDS
Media Contact:
Sid, Luna PR – sid@lunapr.io
Natasha, Luna PR - natasha@lunapr.io
About Parfin
Parfin is a financial technology company building enterprise-grade software products to allow financial institutions to adopt blockchain rails. Founded in 2019 by seasoned veterans of investment banking (BTG Pactual) and blockchain technology, Parfin is the core developer of Rayls, taking a unified finance (UniFi) approach that enables traditional finance to use the latest blockchain technology with the required level of compliance, security, and privacy. Building blockchain technology products for the world’s leading financial institutions, digital assets traders, and developers, Parfin is paving the way for a world with more efficient, transparent, and inclusive markets. Learn more at https://www.parfin.io.
About Rayls
Rayls is a cutting-edge blockchain technology designed to empower financial institutions with secure, scalable, and compliant solutions. By offering permissioned EVM 'subnet' blockchains, Rayls enables institutions to maintain privacy and regulatory compliance while seamlessly connecting to the broader decentralized finance ecosystem. Leveraging advanced cryptographic techniques such as Zero-Knowledge Proofs and Homomorphic Encryption, Rayls ensures data security and transaction integrity. Developed by leading innovators, including Parfin, Rayls bridges the gap between traditional finance and decentralized networks, accelerating the adoption of Real World Asset (RWA) tokenization and unlocking new financial opportunities globally. Learn more at www.rayls.io.
