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Alisa Davidson
Published: November 12, 2024 at 10:29 am Updated: November 12, 2024 at 10:29 am
Edited and fact-checked:
November 12, 2024 at 10:29 am
In Brief
Huma Finance launches its protocol on Solana, providing global businesses with instant liquidity solutions on one of the fastest-growing blockchains.
Payment Financing (PayFi) network Huma Finance announced that it has launched its protocol on Solana. As the first advanced real-world asset (RWA) protocol to deploy on Solana, this launch enables Huma Finance to offer global businesses instant liquidity solutions on one of the fastest-growing blockchains.
By integrating with Solana, Huma aims to address the increasing demand for accessible, affordable, and secure on-chain payment financing within the payment industry. To coincide with the launch, Huma Finance is also running a limited-time campaign on Solana for accredited investors interested in earning double-digit stablecoin yields.
Huma’s rapid expansion of the PayFi network highlights the growing recognition of PayFi as a viable solution to the challenges posed by traditional payment financing. Payment financing underpins trillions of dollars in global transactions each year, including $16 trillion in credit card payments, $10 trillion in trade finance, and critical remittances that support one in six families worldwide.
Through the continued growth of its PayFi network, Huma Finance is leveraging the strengths of blockchain and stablecoin technology to bring real-world payment volumes on-chain, opening up new opportunities that traditional financial systems cannot support. Following its merger with Arf, a leader in on-demand liquidity for cross-border payments, earlier this year, Huma’s platform has processed over $2 billion in transactions in 2024, with zero credit defaults. The platform is projected to exceed $10 billion in transaction volume by next year.
Huma Finance Partners With Roam To Launch DePIN Hardware Financing On Solana
Huma Finance provides financing solutions for global payments, offering instant access to liquidity at any time and from anywhere. With $38 million raised, it is also piloting Decentralized Physical Infrastructure Networks (DePIN) financing use cases on its PayFi network to accelerate the development of decentralized infrastructures. Solana, known for its vibrant DePIN ecosystem, serves as an ideal environment for this initiative.
Recently, Huma Finance has partnered with the Layer 1 project Roam to introduce the first-ever DePIN hardware financing solution aimed at enabling decentralized global Wi-Fi. This collaboration allows users to leverage the cash flow generated by Roam Growth products within the Solana ecosystem, using Roam tokens or non-fungible tokens (NFTs) as collateral to secure loans on the Huma platform.
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About The Author
Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
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Alisa Davidson
Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
More articles
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