Huma Finance Officially Launches on Solana, Expanding On-Chain Payment Financing Services for Global Enterprises

Source: The Block

As the world's first PayFi network with transaction volume surpassing $2 billion, Huma Finance announced today that its protocol is officially live on Solana. As the first RWA protocol deployed on Solana, Huma's expansion marks a significant milestone for its PayFi network in providing instant liquidity solutions to global enterprises, further driving its global growth trajectory. This launch enables Huma to meet the growing demand in the payments industry for low-cost, accessible, and secure on-chain payment financing. Meanwhile, Huma has also introduced a limited-time event for eligible investors offering double-digit stablecoin yields.

The impact of the Solana network in the global payments industry is increasingly evident, especially through partnerships with well-known entities such as Stripe, Shopify, and PayPal. Since its launch, PayPal's stablecoin PYUSD has experienced rapid growth, with 88% of its market cap being on Solana (currently exceeding $1 billion), demonstrating Solana's ability to provide fast and cost-effective solutions globally.

Solana's infrastructure is designed for high throughput, with each transaction fee as low as $0.00025 and a transaction completion time of approximately 400 milliseconds. This efficiency and scalability make Solana an ideal platform for payment and payment financing solutions. With the launch of Huma's PayFi network on Solana, Solana's payment ecosystem will be able to grow and expand more rapidly.

Huma's rapid expansion of the PayFi network indicates that PayFi is an effective solution to address the limitations of traditional payment financing, tackling the constraints of traditional payment financing. Payment financing supports trillions of dollars in transactions each year: $16 trillion in credit card merchant payments, $10 trillion in trade financing, and one in every six households relying on remittance income. Payment financing is deeply embedded in people's daily lives, and without it, economic growth would stagnate. However, due to factors such as high transaction fees, slow transaction processing times, and the need for prefunded accounts in traditional payment financing systems, liquidity access is restricted, making it difficult to meet user demands.

In order to address the liquidity gap, Huma is continuously expanding its PayFi network, leveraging the core advantages of blockchain and stablecoin technology to bring trillions of dollars of real-world payment flows onto the chain and address new use cases that traditional finance cannot support. Earlier this year, Huma merged with cross-border payment on-demand liquidity leader Arf, further enhancing its platform's capabilities. By 2024, the Huma platform has processed over $2 billion in transactions with zero credit defaults and is expected to exceed $10 billion in transaction volume next year. To this end, Huma has raised $38 million and piloted the DePIN financing use case on its PayFi network to accelerate the development of decentralized infrastructure. Solana happens to have one of the most vibrant DePIN ecosystems.

Huma Co-founder Erbil Karaman stated: "PayFi is one of the most important trends in the cryptocurrency space as it has a significant impact on global businesses and individuals. Expanding the Huma network is crucial to support the rapid development of the PayFi ecosystem. Similar to PayPal and Stripe, we believe Solana provides one of the best tools for global payment and financing solutions."

Karaman added: "We are delighted to launch on Solana and have partnered with multiple top projects to ensure that PayFi services cover every corner of the Solana ecosystem."

To celebrate the deployment of the Huma protocol on Solana, Huma and Arf have introduced the first fund pool and limited-time deposit activity for qualified individual investors seeking high returns, with an annualized yield of up to 26%. This event not only highlights the prominent position of PayFi in the rapidly growing RWA field but also accelerates Huma's mission to provide fast, convenient, and cost-effective payment financing solutions globally.

About Huma

Huma Finance is the first PayFi network. Huma provides transaction services to the world, offering instant liquidity anytime, anywhere. To learn more about Huma and the PayFi network, please visit the official website.

This article is contributed content and does not represent the views of BlockBeats.