Alex Buelau, CTO, Marcos Viriato, CEO, and Cristian Bohn, CPO at Parfin. Photo: Parfin.
Parfin, fintech that offers custody, negotiation and management services for crypto, received a contribution of R$ 34 million. The amount will be used to expand the team, especially in the technology area. Thus, the operation is an extension of the R$ 8 million fundraising round of March year.
“The amounts raised are essential for the company’s expansion, development of products and solutions, which includes expansion of services linked to decentralized finance (DeFi) and support for new blockchain protocols with staking (making cryptoactives available on a network and having income from it) ”, said Marcos Viriato, CEO of Parfino CEO.
In the coming months, Parfin will also launch solutions to facilitate instant crypto exchange. In particular central bank digital coins (CBDCs) and stablecoins. In 2022, the Central Bank of Brazil will start testing its CBDC, that is, the digital real.
Leading fundraising is the global venture capital fund (VC) Valor Capital Group, which has already invested in other cryptocurrency-related companies. Among them are, for example, the Mexican stock exchange Bitso, the American Coinbase, the decentralized finance company (DeFi) BlockFi, Celo, responsible for crypto Celo (cUSD) and Circle, of crypto USDC.
Also in the group of investors is the Brazilian venture capital fund Alexia, which started investing a year ago. Among its ventures are Gaivota, artificial intelligence for agribusiness, and Carbonext.
Parfin has OTC tables using their crypto solution
According to Viriato, there is great demand for the company’s solutions in Brazil, Europe and the United States (USA). The executive and his partners came from the conventional financial market. Thus, one of the company’s objectives is to offer solutions that facilitate the entry of investors from the traditional cryptocurrency market, bridging the gap between the two.
“In Brazil, we already have the largest OTC tables (over-the-counter operation) using our Crypto Plug & Play solution”, says the executive. Foxbit crypto exchange uses this service from Parfin. And, says Viriato, several investment platforms and digital banks are being implemented, with launch in the first quarter of 2022.
Last month, Parfin announced a partnership with the Danish company Sepior. As a result, it became the only Brazilian company that offers custody of digital assets using multiparty computing (MPC) technology. This technology allows for distributed storage of parts of a private key to reduce theft and fraud.
In addition, the company has Parfin Terminal, for fund managers and trading desks, which consolidates and manages a digital portfolio and automatic exchange through banking partners.