What exactly is Huma Finance, a PayFi project?
————Huma started in 2022, launching the Huma V1 version, and upgrading to V2 in 2024.
Project Potential:
Market: They processed $2 billion in transactions in 2024. After merging with the cross-border payment platform Arf, they expect to reach $10 billion in transaction volume by 2025. This is quite significant and seems to challenge traditional payment giants.
Funding: $46.3 million in funding, backed by major institutions like Distributed Global and Hashkey Capital, as well as support from Circle (the issuer of USDC) and the Stellar Foundation.
What is this product useful for ordinary users?
1. Save Money and Time: If you run a business and customers owe you money, Huma can convert these “IOUs” into digital assets, quickly sell them to investors, and immediately get cash without waiting for months. Cross-border transfers are also fast and have low fees.
2. Convenient: Deployed on Solana and Scroll, transaction fees are cheap. A mobile app and DeFi wallet will be released in 2025, and the operation will likely be similar to using Alipay.
3. Usable Globally: By using stablecoins like USDC, it can be used almost anywhere, without being restricted by bank cards or regional limitations.
In conclusion: Huma Finance targets the pain points of payment and financing, simplifying the troubles of traditional finance with blockchain technology. Later, they will also launch an app, wallet, and more features, making it a promising opportunity to watch.
However, cryptocurrencies do come with risks, so please assess accordingly! $HUMA