Outside Source
Huma Finance, a tokenized real-world assets platform, has raised $38 million in funding as it looks to scale its payment financing network.
According to an announcement on Sept. 11, Distributed Global led the platform’s equity round, with participation from Hashkey Capital, the Stellar Foundation, Folius Ventures, and Turkish private bank İşbank.
Huma plans to use the $10 million in equity financing and $28 million investment via yield-bearing RWAs to expand its PayFi network globally. In its blog post, Huma stated that it plans to go live on Solana (SOL) and Stellar (XLM)’s smart contracts network in coming months.
The platform will also launch the Huma Foundation later this year. Meanwhile, it is set to co-host its inaugural PayFi Summit at Singapore Token 20149 alongside the Solana Foundation and Stellar Development Foundation.
Huma Finance to hyper-scale its network
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.
Huma’s 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 carve out a portion of the $16 trillion credit card financing market for global merchants and the $10 trillion B2B market.
“PayFi 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.”
Lily Liu, President of Solana Foundation.
The real world assets market is seeing significant developments and adoption, with trends including the expansion of tokenization beyond real estate into sectors such as intellectual property and non-fungible tokens. It’s a growth trajectory likely to put NFTs off the ‘dead’ path, Huma recently noted.
Untapped opportunities in the market have driven institutional interest, as blockchain solutions bring transparency, efficiency, and accuracy to data in the RWA space.
This article first appeared at crypto.news
