Huma Finance Launches on Solana, Expanding Access to On-Chain Payment Financing for Global Businesses

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Nov 13, 2024, 09:00 ET

SAN FRANCISCO, Nov. 13, 2024 /PRNewswire/ -- Huma Finance, the first Payment Financing (PayFi) network that has recently surpassed $2 billion in transactions, today announced the launch of its protocol on Solana. Huma's expansion advances its ability to provide instant liquidity solutions for global businesses and meet the payment industry's demand for affordable, accessible, and secure on-chain payment financing. In tandem with the launch, Huma unveiled a limited-time campaign on Solana for accredited investors seeking double-digit stablecoin yield.

Successful recent partnerships with high-profile companies, including Stripe, Shopify, and Paypal have demonstrated the Solana network's ability to deliver fast, cost-effective payment solutions with a global impact. By expanding to Solana, Huma will be able to leverage the network's high throughput capacity, with transaction costs as low as $0.00025 and finality times of approximately 400 milliseconds, to supercharge its suite of payment financing solutions.

Bolstered by its merger with Arf—a leader in on-demand liquidity for cross-border payments—earlier this year, Huma's platform has already processed over $2 billion in transactions in 2024 with zero credit defaults. After raising $38 million, Huma is on track to reach $10 billion in payment financing transactions next year. Huma is also piloting DePIN financing use cases on its network, to accelerate the creation of decentralized infrastructures.

"PayFi is one of the most important movements in crypto due to its massive impact on businesses and people. Payment financing today powers $30T in annual payments through credit cards, trade finance, and pre-funding for cross-border payments. Huma, as the first PayFi network, is helping to grow all of these use cases while drastically improving their efficiency and accessibility. " Huma Co-Founder Erbil Karaman said. "To support the rapid growth of the PayFi ecosystem, it's critical that we scale the Huma network as well. Solana provides one of the best toolkits out there for global payment and financing solutions."

To mark the deployment of its protocol on Solana, Huma and Arf have launched a limited-time campaign designed for accredited investors. For more information about Huma, visit https://huma.finance/.

About Huma
Huma Finance is the first PayFi network. Huma powers financing of global payments, with instant access to liquidity anywhere, anytime.

SOURCE Huma Finance