Parfin Provides Infrastructure for Virtual Asset Service Providers Until October 30

Parfin is positioning its infrastructure platform for banks, fintechs, and financial institutions that need to structure themselves as Virtual Asset Service Providers (VASPs) by October 30. With cryptocurrency regulation advancing in Brazil, institutions must transform experimental projects into operations with governance and control. Resolutions from the Central Bank, in effect since February 2, require companies already in operation to submit authorization requests by the deadline, under penalty of ceasing activities. Digitra.com and NovaDAX have already announced that they will not apply for the license, and Bitnuvem has also exited the market. Parfin claims that its platform can get an operation up and running in just a few days, bringing together accounts, treasury, transfers, brokerage, governance, and compliance. The company positions itself as a connection layer between liquidity providers and blockchains, with over 20 connected liquidity sources. Currently, Parfin serves more than 30 institutional clients, including XP, Bradesco, and Santander, accumulating over $4.2 billion in transaction volume and 2.8 million active users.

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