Fintech PR
Huma Raises $38M to Hyper-scale its Payment Financing (PayFi) Network
Huma Finance is transforming payment financing by utilizing real-world assets to deliver instant and borderless liquidity, enabling faster, more accessible, and more efficient financial solutions.
SAN FRANCISCO, Sept. 12, 2024 /PRNewswire/ — Huma, the first Payment Financing (PayFi) network, announced today that it has raised $38 million in funding. Distributed Global led the equity round, with significant participation from Hashkey Capital, Folius Ventures, the Stellar Development Foundation, and TIBAS Ventures, CVC arm of İşbank, the largest private bank in Turkiye. Part of this raise came as investments into high-yield real world assets (RWA) assets on platform.
The vast majority of businesses and people around the world depend on a form of payment financing. Credit cards alone finance $16T in merchant payments globally. Trade finance facilitates $10 trillion in B2B payments. One in every six families depends on remittances—money sent back home across the borders—yet even that system depends on trillions of dollars being locked in pre-funding accounts. The list goes on. While the demand for payment financing increases daily, creating an urgent need for more innovative solutions, traditional financial institutions are unable—or unwilling—to meet this need, widening the liquidity gap with each passing day. Payment financing is so ingrained in every part of our lives that, without it, the entire economy would stop growing.
PayFi aims to address this giant liquidity gap by bringing trillions of dollars of real world payment volume over to blockchains and stablecoins. Leveraging the core strengths of blockchain—global money movement in seconds through programmable money—PayFi also enables new real-world use-cases that were previously impossible. Huma has built the first ever PayFi network with all of these use cases in mind, adopting an open, modular and decentralized approach to empower interoperable solutions across participants. By bringing the best of RWA, Payments, and DeFi together, Huma is creating a network that is far more efficient and accessible than traditional alternatives.
“While designing Huma, we often asked ourselves: How do you build an open payment financing network on blockchain that is more powerful than Visa? Today, stablecoins are already powering $2T in payments annually. An open payment financing network is going to help grow the entire payment ecosystem faster.” said Huma co-founder Richard Liu. “The surge of interest we’re seeing right now is a testament to PayFi’s potential. As more partners join us every week, it’s clear that PayFi is quickly becoming the new frontier of RWA.”
Building on this vision, Huma’s April merger with Arf, the leading on-demand liquidity solution for global payments, brought together the two of the most prominent PayFi players. Huma and Arf have already surpassed $1.8 billion in payment financing transactions and are on track to reach $10 billion next year, making them one of the fastest growing use cases for Circle’s USDC.
Part of this raise came as investments into Arf’s high-yield RWA assets. The Stellar Development Foundation provided a $10 million investment. Additionally, tokenized assets are currently available to accredited investors on Scroll for a limited period. With this funding infusion, Huma plans to further expand its PayFi network to the Stellar smart contract platform and to Solana in the coming months, making sure the network is accessible from all the major payments-focused chains.
“Moving money quickly and cheaply across borders is at the core of what the Stellar network does best. PayFi is providing real world utility that solves problems for people and companies, and it is the type of project tailor-made for the Stellar network. We look forward to continuing to working with Huma to grow the PayFi ecosystem,” said Denelle Dixon, CEO of the Stellar Development Foundation.
“Huma’s PayFi network represents an important step forward in payment financing, offering solutions to long-standing inefficiencies in the industry,” said Chao Deng, CEO of HashKey Capital. “We believe innovations like this are crucial for addressing real-world challenges, and we’re pleased to see Huma playing a key role in advancing the Web3 space.” Huma’s growing PayFi network has caught the attention of leading blockchain advocates, further fueling the momentum behind PayFi. The Solana Foundation’s support signals how PayFi’s innovative on-chain financial solutions are set to redefine global finance.
“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.” said Lily Liu, President of Solana Foundation.
Huma plans to launch the Huma Foundation this year, a pivotal move to decentralize its PayFi network and broaden global access, further solidifying its leadership in the RWA space. Additionally, Huma is set to host the inaugural PayFi Summit in collaboration with the Solana Foundation and Stellar Development Foundation at Singapore Token 2049 on September 17th——an event poised to ignite conversations and drive innovation in the industry.
About Huma
Huma Finance is the first PayFi network. Huma powers financing of global payments, with instant access to liquidity anywhere, anytime. For more information about Huma and the PayFi network, visit https://huma.finance/
Photo – https://mma.prnewswire.com/media/2503213/Huma_Arf_Founders.jpg
View original content:https://www.prnewswire.co.uk/news-releases/huma-raises-38m-to-hyper-scale-its-payment-financing-payfi-network-302246341.html
Fintech PR
President Emmerson Mnangagwa met this week with Zambia’s former Vice President and Special Envoy Enoch Kavindele to discuss SADC’s candidate for the AfDB
President Mnangagwa, who is SADC Chairperson, reaffirmed his own country’s and SADC’s enthusiastic support for Zambian candidate Sam Maimbo
LUSAKA, Zambia, Dec. 20, 2024 /PRNewswire/ — Special Envoy Kavindele released the following statement following the meeting:
“I am elated to witness the growing success and momentum of Sam Maimbo’s candidacy to become the next President of the African Development Bank. I am filled with gratitude to our friends across both SADC and COMESA for their continued support and good wishes.
Sam has garnered such wide consensus due to his being uniquely qualified to deliver the transformative change and empowerment our continent needs. Sam’s 30 years in development work is defined by driving outcomes, improving processes, and investing in people. The AfDB needs a hands-on leader who is laser focused on delivering results and who is unafraid of making tough decisions in order to best serve our continent. Sam is that leader. Sam has the track record and experience to drastically enhance the pace, scale, and impact of the Bank’s work in service of the people and governments of Africa.
Our region has a proud history of supporting fellow Southern Africans. For example, we all recall Lusaka’s role in hosting the African National Congress’ headquarters during the dark days of Apartheid oppression.
It therefore gives me no pleasure to observe my South African brothers, who have themselves leant on Zambia’s steadfast friendship over many decades, fail to rally behind both SADC and COMESA’s chosen candidate for the AfDB. Africa’s urgent economic development challenges demand transformational leadership at the AfDB, it is all of our responsibility to put forward the best candidate for the job. This is not the time or place for a government to act with narrow self-interest, we all must act in the continent’s and AfDB’s best interest.
I thank Sam Maimbo for his lifelong service to our entire continent, and I am eager to witness his enormous impact as President of the AfDB.”
Fintech PR
Stay Cyber Safe This Holiday Season: Heimdal’s Checklist for Business Security
LONDON, Dec. 20, 2024 /PRNewswire/ — Heimdal Security shares a practical holiday cybersecurity checklist, offering expert insights to help businesses safeguard against cyber threats this festive season.
With reduced staffing, remote work setups, and a surge in online shopping creating heightened vulnerabilities, this guide offers actionable tips to enhance business security.
Going beyond basic advice, the checklist also highlights the most common holiday scams and features videos showcasing real-life examples of Christmas-themed cyber scams and effective prevention strategies.
Key Tips to Protect Businesses This Holiday Season:
- Strengthen endpoints: Ensure devices are updated with antivirus and endpoint protection software; consider Endpoint Detection and Response (EDR) and application whitelisting.
- Prepare for phishing spikes: Train staff to identify suspicious emails, enforce robust email filters, and establish protocols for reporting unusual activity.
- Secure remote access: Mandate VPN usage, monitor unusual logins, and deactivate inactive accounts temporarily.
- Segment and shield networks: Isolate sensitive areas, deploy DNS security and advanced firewalls, and maintain full visibility over network traffic.
- Apply timely patches: Regularly update all systems and test patches in a controlled environment to minimize disruptions.
- Mitigate supply chain risks: Assess vendors thoroughly and limit their access to essential systems.
- Have a response plan ready: Tailor incident protocols for the holidays, create an on-call rotation for the IT team, and enable rapid action against suspicious activity.
“ Cybercriminals thrive on holiday distractions, but with proactive measures like phishing training, secure endpoints, and network segmentation, businesses can stay ahead of potential threats,” said Alex Panait, System Administrator at Heimdal Security.
Common Holiday Scams That Businesses Should Watch For:
Cybercriminals often tailor their tactics to exploit the festive season. The most common scams include:
- Spear phishing: Emails disguised as holiday bonuses or event invitations that steal credentials or spread malware.
- Malicious holiday E-Cards: Festive greetings that contain links deploying ransomware or spyware.
- Fake E-Commerce sites: Fraudulent websites offering discounts to steal payment information.
- Insider threats: Distracted or disgruntled employees mishandling or exploiting sensitive data.
- Corporate travel scams: Fake booking platforms targeting business travelers.
- Business email compromise (BEC): Fraudulent requests for urgent wire transfers during year-end financial rushes.
For more, read the full article here or watch the video on YouTube to see how these threats unfold and learn actionable prevention strategies.
About Heimdal:
Established in Copenhagen in 2014, Heimdal® empowers CISOs, security teams, and IT administrators to improve their security operations, reduce alert fatigue, and implement proactive measures through a unified command and control platform.
Heimdal’s award-winning cybersecurity solutions span the entire IT estate, addressing challenges from endpoint to network levels, including vulnerability management, privileged access, Zero Trust implementation, and ransomware prevention.
For further press information:
Madalina Popovici
Media Relations Manager
[email protected]
View original content:https://www.prnewswire.co.uk/news-releases/stay-cyber-safe-this-holiday-season-heimdals-checklist-for-business-security-302337465.html
Fintech PR
According to Tickmill survey, 3 in 10 Britons in economic difficulty: Purchasing power down 41% since 2004
The people who have the most problems are women (30%) and are between 35 and 49 years old (39%)
ROME, Dec. 20, 2024 /PRNewswire/ — The purchasing power in the UK has dropped by 41% over the last 20 years. Today, £100,000 left in a bank account since 2004 without being invested would now be worth £59,021.
This figure is one of the findings from a study conducted by Tickmill, an international online trading broker that compared the economic situation in the UK and the European Union through the infographic “Purchasing Power and Cost of Living: UK vs EU”.
The analysis reveals a slight decline of 0.4% in the UK’s purchasing power, which currently stands at £41,573. In contrast, the European Union has seen a modest rise of 0.1%, reaching £40,874.
Why is purchasing power declining in the UK? One key factor is the cost of living. If the UK were still part of the European Union, it would rank as the fifth most expensive country, behind Ireland, Luxembourg, Denmark, and the Netherlands.
Unsurprisingly, 3 in 10 Britons are struggling with the cost of living. Women (3 in 10, compared to 25% of men), those aged between 35 and 49 (4 in 10), households earning less than £15,000 (6 in 10), and single parents (1 in 2) are among the most affected groups.
Among UK nations, Northern Ireland is the hardest hit, with 34% of its population facing financial difficulties, followed by Wales (31%), England (28%), and Scotland (22%). In England, the North East has the highest percentage of people struggling, with 4 in 10 residents affected. Even in London, the high costs impact 1 in 4 adults.
In response to these challenges, Britons are making significant adjustments:
- 53% have cut back or delayed spending on smaller items like eating out, entertainment, subscriptions, clothing, toys, books, etc.;
- 52% have reduced household energy consumption;
- 48% have decreased their grocery spending;
- 41% have scaled back or postponed major expenditures, such as holidays, cars, and weddings;
- 26% are working longer hours, taking on overtime, or pursuing additional jobs to earn extra income.
The British also made changes on the financial side. One in four adults has been forced to dip into their savings or investments to cover daily expenses. Moreover, 44% have stopped saving or investing entirely or have reduced their savings and investments—a 4% increase compared to 2023.
The lack of investment is another critical factor contributing to the decline in purchasing power. It is estimated that 13 million UK residents hold £430 billion in cash deposits but do not invest. The reasons? Seventy-four percent say they cannot compare investment products effectively, and 43% are afraid of losing their money.
A lack of knowledge and fear are preventing many savers from taking advantage of an important opportunity: preserving or increasing their purchasing power in the long term.
Photo: https://mma.prnewswire.com/media/2586123/Tickmill.jpg
Logo: https://mma.prnewswire.com/media/2586129/Tickmill_Logo.jpg
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According to Tickmill survey, 3 in 10 Britons in economic difficulty: Purchasing power down 41% since 2004