Huma joins GDN… Grows stablecoin payment network

Global payment infrastructure company Huma is joining the Global Dollar Network (GDN) and embarking on expanding the stablecoin-based payment ecosystem.

Huma announced on the 6th that through this GDN joining, it will accelerate the global expansion of its own PayFi network. PayFi is a programmable finance service that utilizes stablecoins for various financial services such as real-time payments and cross-border remittances. It provides a payment infrastructure connecting traditional finance and decentralized finance (DeFi).



GDN is a global consortium led by Paxos. It is composed around the US dollar-based stablecoin USDG. It enables real-time payments based on regulatory compliance on major public blockchains such as Solana and Ethereum. Participants in GDN include Robinhood, Kraken, Anchorage, Nuvei, and WorldPay. GDN shares revenue generated during the process of partners issuing, trading, and holding USDG. It also provides a structure that allows companies to easily participate in the ecosystem without issuing their own stablecoin.

USDG is a stablecoin that complies with the regulatory framework of the Monetary Authority of Singapore (MAS). It is issued by Paxos Digital Singapore, located in Singapore. Solana has been selected as the first blockchain for USDG issuance. This seems to be influenced by Solana's fast processing speed, low fees, and scalability.

Erbil Karaman, co-founder of Huma, said, "Stablecoins led by a single issuer have limitations in creating network effects," and added, "I am excited that we will accelerate the popularization of PayFi together with GDN."

Ronak Daya, Head of Product at Paxos, stated, "Huma is a proven partner that has been providing liquidity and credit solutions in the global payment market," and "Especially in the areas of remittance and fund movement, it will play a crucial role in accelerating USDG adoption and solving existing issues such as pre-funding."

Reporter Do Ye-ri