PANews reported on November 11 that according to an official announcement by Conflux, Conflux has launched PayFi, a blockchain-based payment ecosystem, which aims to become the Web3 payment infrastructure for the next generation of consumers. PayFi is positioned as an innovative financial ecosystem that provides new financial experiences through efficient and low-cost blockchain technology, centering on concepts such as programmable currency, real-time finance, and streaming payments.
The Conflux Foundation plans to invest $500 million from the ecological fund to promote the development of the PayFi ecosystem. PayFi will cover multiple application scenarios, including consumer payments, creator economy, and supply chain financing, and is committed to solving the inefficiency of traditional payment systems and providing users with more convenient and programmable payment methods.