Merchants in Asia now benefit from immediate financial transactions through the collaboration between Huma, Arf, and Geoswift.
Revolutionizing Global Payments: A Groundbreaking Partnership
A landmark collaboration between Huma Finance, Arf, Geoswift, and PolyFlow aims to revolutionize the world of payments, bypassing traditional banking bottlenecks and enabling instant or same-day settlement payouts for sellers on global e-commerce platforms.
At the heart of this partnership is Huma Finance's PayFi Network, an innovative solution that automates payment settlements using blockchain technology and stablecoin liquidity. This cutting-edge system allows merchants, particularly those in Asia, to benefit from eliminating delays caused by banking hours and time zone mismatches, providing a much-needed boost to the speed and efficiency of cross-border transactions.
Huma's PayFi Network acts as the orchestration layer, automating disbursements and enforcing compliance (AML/KYC) while providing real-time transparency and instant access to stablecoin liquidity. This bypasses the slow traditional bank transfers, offering a more streamlined and efficient solution.
Arf's compliant settlement infrastructure provides another crucial element to the partnership. This infrastructure offers receivables-backed liquidity and ensures adherence to regulations across jurisdictions, bridging the gap between traditional finance and Web3 compliance. This support for global cross-border settlements ensures secure and legal transactions.
Geoswift's integration plays a pivotal role in the partnership, enabling immediate funding to merchants at the moment of settlement initiation on e-commerce platforms. This real-world speed and scale offer a significant improvement over traditional banking systems, which can take days to process payments.
Lastly, PolyFlow's vendor financing platform supports liquidity provisioning to sellers, allowing vendor payments to be made instantly rather than waiting days or weeks as with traditional banking systems.
Together, these elements modernize global payments, allowing marketplace sellers to receive their funds within hours rather than days. The system is scalable to support millions of merchants while maintaining full compliance across all involved jurisdictions.
In summary, by integrating blockchain-based programmable liquidity (Huma), compliance and receivables funding (Arf), immediate merchant funding (Geoswift), and vendor financing (PolyFlow), the partnership effectively bypasses traditional banking delays, enabling instant or same-day settlement payments to global e-commerce sellers.
Stablecoins, with a daily circulation accounting for $30 billion in transactions, are rapidly becoming a fix for a broken payments system. While the use of crypto and stablecoins for cross-border payments is still a developing field, accounting for less than 1% of all money flows, the potential for growth is immense.
Raymond Qu, Founder & CEO of Geoswift and Co-Founder of PolyFlow, expressed his excitement about the partnership, stating that they have delivered a new benchmark for PSPs serving global marketplaces. This collaboration is a significant step forward in the evolution of global payments, offering a more efficient, secure, and compliant solution for merchants worldwide.
- Huma Finance's PayFi Network, utilizing blockchain technology and stablecoin liquidity, offers an efficient, streamlined solution for merchants, bypassing traditional bank transfers.
- In this groundbreaking partnership, Arf's compliant settlement infrastructure ensures adherence to regulations across jurisdictions, bridging the gap between traditional finance and Web3 compliance.
- PolyFlow's vendor financing platform provides immediate liquidity to sellers, allowing vendor payments to be made instantly instead of waiting days or weeks, as with traditional banking systems.
