Last week, I had coffee in São Paulo and witnessed something quite interesting.

A local friend took out his phone and completed a cross-border transfer in a few seconds. I asked what technology he used, and he said it was Parfin's digital asset settlement system.

This made me notice the Rayls Labs project.

What it does is different from most blockchain projects - it doesn't shout slogans, doesn't chase trends, but quietly builds underlying infrastructure for banks.

Traditional banks have slow cross-border settlement and high fees, which is an old problem. However, there are not many solutions that can be effectively implemented. Rayls Labs chooses to approach from the B-end, directly addressing the actual needs of financial institutions.

There are two points worth pondering: first, the technical route is pragmatic enough, and second, the clients are institutions using real money.

The transformation of the banking industry is often quiet. When the infrastructure is in place, the upper-level applications will naturally follow.