LayerZero partners with Rayls to enhance blockchain finance

Rayls, a blockchain ecosystem focusing on institutional decentralised finance (DeFi), has announced a partnership with LayerZero, an interoperability protocol, to enhance connectivity and liquidity for financial institutions across more than 120 blockchains.

This partnership aims to facilitate the seamless integration of traditional finance (TradFi) and DeFi systems, allowing the movement of stablecoins, central bank digital currencies (CBDCs), and tokenised deposits between over 120 blockchain platforms. The collaboration is designed to unlock new avenues for liquidity, security, and compliance for global financial entities.

Rayls has consistently expanded its blockchain infrastructure solutions, previously working with major institutions such as the Central Bank of Brazil and JP Morgan Kinexys. The recent Series A funding round, which raised $16 million, boosts core developer Parfin's total funding to $38 million, further supporting Rayls' goal to broaden its DeFi ecosystem.

The integration of LayerZero's protocol with Rayls' platform connects private subnets to over 120 public blockchains, enhancing secure asset transfers and enabling real-time financial activities. This expanded interoperability is expected to promote broader institutional adoption of blockchain technology while prioritising security and compliance standards.

Marcos Viriato, Chief Executive Officer and Co-founder of Parfin, noted the significance of this development: "LayerZero's ability to provide seamless and secure cross-chain communication is fundamental for Rayls as we work to integrate financial institutions with decentralised finance technology."

Viriato emphasised the impact of this collaboration: "With this integration, we're making it possible for financial institutions to securely move assets across global networks, unlock new liquidity channels, and participate fully in the evolving world of DeFi. LayerZero's infrastructure is crucial for realising our vision of bridging TradFi and DeFi at scale."

Bryan Pelligrino, Chief Executive Officer and Co-Founder of LayerZero, commented on the joint venture: "Financial institutions need infrastructure that doesn't force a choice between security, compliance, and interoperability. With Rayls, we're bridging institutions, central banks, and DeFi protocols in a way that allows tokenized assets, stablecoins, and CBDCs to move securely across both public and private networks. This is the foundation for a unified, scalable financial infrastructure that supports innovation and inclusivity across the globe."

The joint initiative between Rayls and LayerZero approaches the challenge of interoperability between private and public blockchains, which is crucial for global liquidity and streamlined transactions. The upcoming phase involves integrating LayerZero's cross-chain messaging into Rayls' platform, with pilot testing due with select financial institutions in 2025, leading up to a full-scale launch later in the year.