What is Rayls?The blockchain bringing finance onchain.

Rayls lets regulated institutions use blockchains without giving up privacy or control. Each institution runs its own private chain (Rayls Sovereign), a permissionless public network (the Rayls Public Chain) carries liquidity, and the Rayls Enygma privacy protocol keeps payments confidential while a designated auditor can still read them. Institutions use it to tokenise money and assets, settle payments and reach onchain liquidity.

Both. The Public Chain is a permissionless EVM Layer 1 that anyone can build on and transact over. Rayls Sovereign is a private EVM blockchain an institution installs inside its own perimeter. A custom lock-and-mint bridge carries tokenised assets from Sovereign to the Public Chain and back, when the institution chooses and only then. Several Sovereign chains can also be connected into a permissioned Rayls Private Network.

Banks, central banks, financial market infrastructures, asset managers and fintechs that need tokenisation or onchain settlement under privacy and compliance obligations. Developers and DeFi protocols use the Public Chain to reach tokenised real-world assets and liquidity that originate from regulated institutions.

• Tokenised money: mint, transfer and collateralise deposit tokens on a chain the bank owns, settle atomically, and issue or settle against stablecoins.
• Tokenised assets: issue receivables, private credit or bonds privately on Sovereign, then distribute them through vaults on the Public Chain, with suitability checks for investors.
• Private settlement and CBDC: interbank payments, CBDC distribution and private delivery-versus-payment with Enygma Sovereign.

See use cases.

Rayls is developed by Parfin, the core contributor and technology provider behind the Rayls stack: Sovereign, Private Networks, Enygma and the Public Chain.

Yes. Rayls is EVM-native end to end and built on Reth. Developers use standard 0x addresses, the standard Ethereum JSON-RPC and their existing Solidity toolchain (Foundry, Hardhat, Remix, viem, MetaMask), with no new language or custom SDK. The Public Chain's chain ID is 72957, and existing Solidity contracts run on Sovereign unchanged. See the docs.

In layers. Rayls Sovereign keeps an institution's ledger, data and keys inside its own perimeter. Between institutions and on public chains, the Enygma privacy protocol hides who paid whom and how much, using zero-knowledge proofs, and comes in two editions:

• Enygma Sovereign, in production, settles privately between banks' Sovereign chains in a Private Network. Each transfer's receiver is hidden among a set of banks.
• Enygma Public, in a testnet pilot on the Rayls Public Chain Testnet, brings shielded payments to anyone: payments sit in one shared shielded pool and a relayer submits each one, so the sender's address isn't in the transaction.

Yes, by design. With Auditor View, a designated auditor, typically the financial regulator, holds a read-only view key that decrypts transaction data, scoped to an account, a period of time or a single transaction. A view key reveals history but can never move or freeze funds. In a Private Network, onchain roles (Operator, Node Operator, Auditor) let network authorities enforce governance and selective disclosure, while each participant keeps control of its own data.

Enygma is quantum-private: payment data is protected with keys agreed through ML-KEM, the post-quantum standard published by NIST in 2024, so recorded history stays private even from a future quantum computer. Its zero-knowledge proofs (Groth16) and transaction signatures are not yet post-quantum, so it is not quantum-secure against forgery. Moving to a quantum-secure proof system is on the roadmap.

The core stack an institution needs for production is open source under Apache 2.0. Axyl (consensus) and Enygma (transaction privacy) are source-available under the Business Source License 1.1: free to read and test, with a commercial licence for production use beyond the Additional Use Grant. Each BSL release converts to Apache 2.0 after four years. Code is on GitHub.

It processes 15,000+ transactions per second with hard, deterministic finality in under a second and no chain reorganisations, using Axyl, the Rayls consensus protocol. It is secured by a global validator set, currently seven active validators and growing. Sovereign chains offer the same performance inside an institution's own perimeter.

USDr is the native gas token of the Rayls Public Chain. It is pegged 1:1 to the US dollar and fully backed by USDC locked on Ethereum through LayerZero, the network's bridging partner. Because fees are priced in dollars rather than a volatile native asset, onchain activity can be budgeted like any other cost.

RLS is the staking token of the Rayls ecosystem. Validators stake RLS to take part in Axyl consensus, and anyone can delegate stake to a validator without running infrastructure. Each day, fees paid in USDr are converted to RLS: half goes to validators and half is burned. For tokenomics and the full token design, read the Rayls litepaper.

• Banco Central do Brasil selected Rayls for the Drex CBDC pilot, in which 16 of Brazil's largest banks settled tokenised commercial bank deposits against central bank reserves across six use cases.
• Núclea, Brazil's largest payment financial market infrastructure, has been in production on Rayls since June 2024, tokenising around 40,000 corporate receivables a month.
• XP, one of Brazil's largest investment platforms with around $400 billion in client assets, issues the USDXP stablecoin on Rayls.
• Caixa Econômica Federal, Brazil's largest publicly owned bank, is moving into production on Rayls to tokenise real estate credit and its repayment cashflows.
• Rayls was tested in Project EPIC, a Kinexys by J.P. Morgan report, as a privacy and identity layer for fund tokenisation, and took part in the G20/BIS TechSprint on cross-border payments.

Both serve regulated institutions, but they make different choices on smart contracts, privacy and public liquidity.

Comparison based on each project's public documentation as of September 2026. See the full table on Enygma Sovereign, or read The institutional privacy landscape in 2026.

The Public Chain mainnet went live on 30 April 2026, together with USDr gas and network staking. In November 2026, the Enygma Public testnet pilot opened on the Rayls Public Chain Testnet, bringing private, auditable payments to the public network.