Huma Finance, a platform for tokenized real-world assets, has successfully raised $38 million in funding to scale its payment financing network globally.

As announced on September 11, Distributed Global led the equity round, with contributions from Hashkey Capital, the Stellar Foundation, Folius Ventures, and Turkish private bank İşbank. Huma Finance plans to utilize the $10 million in equity financing and $28 million investment via yield-bearing RWAs to expand its PayFi network.

In a recent blog post, Huma revealed plans to go live on the Solana and Stellar smart contracts networks in the coming months. Additionally, the platform will launch the Huma Foundation later this year and co-host its inaugural PayFi Summit at Singapore Token 20149 alongside the Solana Foundation and Stellar Development Foundation.

Huma Finance offers a payment financing platform that provides access to liquidity on the blockchain, allowing businesses and individuals to benefit from global money transfers, blockchain efficiency, and lower transaction costs. The PayFi network aims to leverage the growing adoption of RWA, payments, and decentralized finance to bring the advantages of crypto and blockchain to the mainstream market.

The company sees potential to capture a portion of the $16 trillion credit card financing market for global merchants and the $10 trillion B2B market. Highlighting the innovation, Lily Liu, President of Solana Foundation, stated:

β€œPayFi is the creation of new financial markets around the time value of money. On-chain finance can enable new financial primitives, product experiences, and financial access that are impossible in traditional or even Web2 finance. When I met the Huma team, it was immediately apparent that they’d be a great anchor for the PayFi ecosystem within Solana.”

The real-world assets market is witnessing significant developments and growing adoption. Trends include the expansion of tokenization beyond real estate into sectors such as intellectual property and non-fungible tokens. This growth is likely to rejuvenate interest in NFTs. Huma has noted that blockchain solutions bring transparency, efficiency, and accuracy to data in the RWA space, driving institutional interest in untapped market opportunities.

Stay updated with more news on Global Crypto News.

Post Views: 2