San Francisco, CA – Huma Finance, the first Payment Financing (PayFi) network that recently surpassed $2 billion in transactions, has officially launched its protocol on the Solana blockchain. This expansion marks a major milestone in Huma’s mission to provide powerful, on-demand liquidity solutions that revolutionize payments financing for global businesses. (Cover photo: Huma co-founder Erbil Karaman)
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With Solana’s fast, low-cost infrastructure, Huma is ready to scale its PayFi network and meet the rising demand for affordable, accessible and secure on-chain payment financing. The addition of Solana, one of the fastest growing blockchains in the world, is a strategic move to provide immediate liquidity for decentralized applications and businesses around the world.
An important milestone for the PayFi ecosystem
Huma’s PayFi network is designed to address the significant gap in traditional payment financing systems. Currently, trillions of dollars are traded annually through credit card payments, trade finance and remittances. However, these systems struggle to keep up with demand, hampered by high costs, slow processing times and the need for pre-funded accounts.
By expanding its PayFi network to Solana, Huma aims to leverage the blockchain’s high throughput, low transaction fees, and fast finality times to deliver the infrastructure businesses need to thrive.
“There has been an explosion in the popularity of crypto-based payment solutions,” says Huma co-founder Erbil Karaman. “From money transfer companies to global trading networks and even state governments, demand for crypto payments has skyrocketed. However, most of these solutions lack the payment financing options available in traditional financing.”
“By expanding its PayFi network to Solana, Huma can leverage the chain’s exceptional speed and broad adoption to deliver the critical infrastructure needed to support the exponential growth we are experiencing.”
Erbil Karaman, co-founder of Huma
This announcement comes at a time when Solana is gaining traction in the global payments space, with notable partnerships from companies like Stripe, Shopify and PayPal. PayPal’s PYUSD has already experienced rapid growth, with 88% of its market capitalization (now over $1 billion) generated on Solana, further highlighting the blockchain’s efficiency and scalability for payment solutions.
Scale PayFi for global impact
Huma’s platform, boosted by its recent merger with Arf, a leader in on-demand liquidity for cross-border payments, will process over $2 billion in transactions by 2024. This success has ensured that Huma will surpass $10 billion in transaction volume next year. The platform also plans to roll out use cases for DePIN financing to accelerate the buildout of decentralized infrastructures – a sector where Solana’s ecosystem excels.
“PayFi is one of the most important movements in crypto due to its enormous impact on businesses around the world. To support the growth of the PayFi ecosystem, it is critical to scale the Huma network. Solana’s toolkit for global payment and financing solutions is unparalleled.”
Erbil Karaman, co-founder of Huma
To mark the launch, Huma and Arf are offering a limited-time campaign for accredited investors, delivering double-digit stablecoin returns derived from cross-border payment financing solutions. This initiative underlines PayFi’s ability to disrupt traditional finance and accelerate Huma’s mission to bring fast, accessible and cost-effective payments finance to a global scale.
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About Huma
Huma Finance is the first-ever PayFi network, designed to provide instant access to liquidity for global payments anywhere, anytime. For more information about Huma and the PayFi network, please visit huma.finance.