During the 2049 Summit in Singapore, the “PayFi Summit,” co-organized by Huma Finance, Solana, and StellarOrg, was successfully held. This summit brought together top projects in the blockchain payment field and showcased 12 innovative projects covering various areas such as cross-border payments, RWA tokenization, and Web3 financial infrastructure.
Among the organizers, RWA tokenization platform Huma Finance completed a $38 million financing in September, with Distributed Global leading the investment and participation from HashKey Capital, Folius Ventures, Stellar Development Foundation, and TIBAS Ventures, among others. Huma Finance’s financial payment platform aims to utilize blockchain technology to address the liquidity needs of trade financing and achieve faster settlement.
Arf, a global cross-border payment and settlement platform using the stablecoin USDC, specifically serves licensed currency service providers (such as payment institutions and remittance companies) and financial institutions, offering operating capital and settlement services based on cryptocurrencies. By optimizing the payment process, Arf aims to solve the capital occupation issue in traditional cross-border payments.
Arf completed a $13 million seed round financing in October 2022, with participation from Circle Ventures, Stellar Development Foundation (SDF), United Overseas Bank (UOB) Venture Management, Signum Capital, Hard Yaka, NGC Ventures, Blockchain Founders Fund, and 500 Emerging Europe. This round of financing aims to provide global fund management and operating capital credit limits for financial institutions and licensed currency service providers in the cross-border payment industry.
BackedFi is a regulated RWA asset tokenization platform in the European Union. It offers various RWA tokenization services, including ERC-20 compatible token versions of traditional exchange-traded funds (ETFs) and tokenized stocks. The company has launched tokenized stocks of Tesla (bTSLA), Microsoft (bMSFT), Google (bGOOGL), GameStop (bGME), S&P 500 Index ETF (bCSPX), as well as tokenized Apple (bAAPL) and BlackRock’s iShares Treasury Bond (bIB01). These assets are established under EU securities laws, marked on the Polygon Proof-of-Stake network, and backed by their respective underlying stocks in a 1:1 ratio. The newly listed tokenized securities allow traders to enjoy round-the-clock service, partial ownership, and blockchain security. Qualified investors can trade these traditional securities outside standard stock market hours and fund their accounts using cryptocurrencies.
Bridge aims to build an efficient and low-cost payment platform using stablecoins. It allows businesses to bypass traditional banking systems and achieve fast settlement, cost reduction, and reduced exchange rate volatility in cross-border fund management, especially for B2B (business-to-business) payments. Bridge has partnered with the Latin American cryptocurrency exchange Bitso.
BSOSTech’s goal is to develop a more efficient and transparent Web3 solution for traditional supply chain finance processes through its SUPLEX digitalization platform. Its collaboration with ConsenSys and Tether further enhances BSOSTech’s capabilities in blockchain and international finance, providing compliant and secure cross-border payment and financing services for suppliers and enterprises. These services reduce the financial pressure on companies and drive the digitization transformation of global supply chain finance.
Easy Labs offers programmable payment solutions that enable businesses and developers to manage payments and financial processes more efficiently and flexibly. Through SDKs and no-code platforms, users can design automated financial logic based on specific requirements, achieve comprehensive automation of payment processes, reduce labor costs, improve efficiency, and reduce the risk of errors.
Helio Pay is a cryptocurrency payment gateway that supports Shopify. By integrating Solana Pay technology, merchants can accept various stablecoin payments (such as USDC, USDT, PYUSD) and enjoy advantages such as low fees, instant settlement, and global accessibility. In addition, NFT holders can receive benefits such as discounts, cNFT airdrops, and Discord membership. Helio Pay also supports the automatic conversion of cryptocurrency earnings into fiat currency, helping merchants reduce the risk of price fluctuations.
PolyFlow is a Web3 supply chain finance platform based on the multi-chain PayFi protocol. It supports users in registering Payment IDs (PIDs) on multiple blockchain networks, funds management, and yield generation through self-custodial wallets, and is compatible with DeFi services. Users can apply for PolyFlow payment cards, deposit encrypted assets, and consume globally.
PolyFlow also collaborates with Roam and Huma Finance to participate in the DePIN hardware loan program, providing on-chain supply chain finance support for IoT projects and accelerating the deployment of hardware infrastructure.
Portal establishes embedded cryptocurrency wallets for mobile devices and Web3, providing wallet solutions for banks, exchanges, and credit card issuers. Its features include MPC API and account abstraction.
Pay With Ripe focuses on providing cryptocurrency payment services for Southeast Asian merchants. It offers QR code payment functionality for cryptocurrency wallets such as Phantom, enabling encrypted cryptocurrency payments through scanning merchant QR codes.
Sphere Labs provides cryptocurrency payment infrastructure, supporting merchants with payment gateways, subscription services, payment links, and invoice modules, and processing transactions through multiple blockchain networks such as Solana, Polygon, and Avalanche. It also introduces a Telegram extension package for bank-to-wallet transfers, allowing users to convert and transfer fiat currency and cryptocurrencies within Telegram. The official launch is planned for later this year, with support for USD or EUR accounts, and early users enjoy a 0.1% transaction fee.
TLay is the digital trust layer of DePIN, registering and managing physical assets on the blockchain to connect the physical and digital worlds. TLay has collaborated with Huma Finance to develop the PayFi system, providing real-time financing and automatic underwriting services based on on-chain cash flow, ensuring data transparency and device trust through innovative risk management tools, and promoting the security and sustainable development of the DePIN ecosystem.
Zoth is a decentralized financial company specializing in the tokenization of RWA. Its product ZTLN (Tokenized Liquid Notes) is backed by low-risk assets such as US Treasury bonds and top-rated corporate bonds, with a total value of $100 million. ZTLN provides transparent, audited, and liquid blockchain fixed income options for institutions and qualified investors, bridging the gap between CeFi and DeFi.
Zoth completed a $4 million financing round in August, with participation from Taisu Ventures, G20, Fat Cat Ventures, Coinbase, Hedera, and Ripple’s XRPL Foundation. This round of financing will be used to expand the market scope of its product Tokenized Liquid Note, strengthen its team, and accelerate market penetration.