Rayls selected to participate in Kinexys by J.P. Morgan’s Project EPIC – exploring privacy and identity solutions for institutions
London, UK, 7th November, 2024 – In a report launched on November 06th, Kinexysby 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 privacyand identity solutions for institutions. In Parfin’s implementation, Rayls 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 ledger sprotected sensitive data on-premise, with end-to-end encryption and Merkle rootattestations enabling confidential interactions.
● Regulatory Compliance: Integrated with AML/KYC and suitability frameworks through at testation 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 aparadigm shift in the way banks can securely and efficiently transact andwe are looking forward to further developing solutions that contribute to thefuture of banking.” said Marcos Viriato, Co-Founder and CEO of Parfin.
“Enterprise-gradeprivacy and digital identity solutions are critical to unlock benefits oftokenization 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 acommitment 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 here.
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