As a seasoned crypto investor with a knack for spotting promising projects, I find Huma Finance’s recent $38 million funding raise quite intriguing. Having witnessed the rise and fall of numerous blockchain startups, it’s refreshing to see a platform like Huma, which aims to bridge the gap between traditional finance and decentralized finance.
Huma Finance, a platform that deals with tokenized real-world assets, has secured a $38 million investment to expand its payment financing network. In simpler terms, they’ve received a large sum of money to grow the financial system that supports their tokenized asset transactions.
On September 11th, it was announced that Distributed Global took the lead in investing in the platform’s equity round. This round also included contributions from Hashkey Capital, the Stellar Foundation, Folius Ventures, and Turkish private bank İşbank.
Huma intends to utilize a combination of $10 million from equity financing and $28 million raised through Return-on-Assets (RWAs) investments, to grow its PayFi network on a global scale. The company also announced in a recent blog post that they aim to become operational on the Solana (SOL) and Stellar (XLM) blockchain networks within the next few months, leveraging their smart contract functionalities.
Later this year, the platform plans to introduce the Huma Foundation as well. At present, it’s scheduled to jointly organize its first PayFi Summit during Singapore Token 20149 with the Solana Foundation and Stellar Development Foundation.
Huma Finance to hyper-scale its network
Through Huma Finance, users gain access to a digital financing platform built on blockchain technology, enabling seamless global money transfers with improved efficiency, reduced transaction fees, and the potential for greater liquidity.
Huma’s PayFi network seeks to capitalize on the increasing popularity of Real-World Assets (RWA), payments, and decentralized finance to make the benefits of cryptocurrencies and blockchain technology accessible to a broader audience. The organization envisions capturing a share of the $16 trillion credit card financing market for global merchants and the $10 trillion Business-to-Business (B2B) market.
PayFi is about establishing innovative financial markets centered around the concept of time-based value. By utilizing on-chain finance, we can develop novel financial building blocks, user experiences, and access to financial services that are unattainable in traditional or even Web2 finance. Upon meeting the Huma team, it was clear they would serve as an excellent foundation for the PayFi ecosystem within Solana.
Lily Liu, President of Solana Foundation.
In simple terms, the market for tangible assets is undergoing substantial advancements and acceptance, with trends like the extension of tokenization beyond real estate into fields such as intellectual property and unique digital items known as Non-Fungible Tokens (NFTs). It’s predicted that this growth pattern could pull NFTs away from their perceived ‘dead end’, according to Huma’s recent observations.
As a researcher delving into unexplored avenues, I’ve noticed a surge of institutional attention due to the potential offered by blockchain technology. This revolutionary tool promises transparency, streamlined processes, and unparalleled precision in handling data within the Risk Weighted Assets (RWA) sector, making it an exciting area for exploration.
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2024-09-11 17:45