Organized by: J1N, Techub News

During the Singapore 2049 Summit, the "PayFi Summit" co-organized by Huma Finance, Solana and StellarOrg was successfully held. The summit brought together leading projects in the field of blockchain payments and showcased a total of 12 innovative projects covering cross-border payments, RWA tokenization, Web3 financial infrastructure and other fields.

Among them, Huma Finance, an RWA tokenization platform and one of the organizers, completed a $38 million financing in September, led by Distributed Global, with participation from HashKey Capital, Folius Ventures, Stellar Development Foundation and TIBAS Ventures. Huma Finance's financial payment platform aims to use blockchain technology to solve the liquidity needs of trade finance to achieve faster settlement.

Arf: Cryptocurrency global cross-border payment and settlement platform

Arf is a global cross-border payment and settlement platform using USDC stablecoin, specializing in providing cryptocurrency-based working capital and settlement services to licensed money service businesses (such as payment institutions, remittance companies) and financial institutions. It aims to solve the problem of capital occupation in traditional cross-border payments by optimizing the payment process.

Arf completed a $13 million seed round in October 2022, with participation from Circle Ventures and Stellar Development Foundation (SDF), UOB Venture Management, Signum Capital, Hard Yaka, NGC Ventures, Blockchain Founders Fund and 500 Emerging Europe. This round of financing is used to provide global fund management and working capital credit lines to financial institutions and licensed money service businesses in the cross-border payment industry.

BackedFi: RWA asset tokenization platform

BackedFi is an EU-regulated RWA asset tokenization platform. It offers a variety of RWA tokenization services, including ERC-20 compatible versions of traditional exchange-traded funds (ETFs) and tokenized stocks. The company has launched tokenized Tesla (bTSLA), Microsoft (bMSFT), Google (bGOOGL) and GameStop (bGME) stocks, the S&P 500 ETF (bCSPX) with cryptocurrency company INX, as well as tokenized Apple (bAAPL) and BlackRock's iShares Treasury Bond (bIB01).

These assets are created in accordance with EU securities laws, tokenized on the Polygon Proof-of-Stake network, and backed 1:1 by their corresponding underlying stocks. The newly listed tokenized securities allow traders to enjoy 24/7 service, fractional ownership, and blockchain security. Eligible investors can trade these traditional securities outside of standard stock market hours and fund their accounts with cryptocurrency.

Bridge: A cross-border payment platform based on stablecoins

Bridge aims to create an efficient, low-cost payment platform through stablecoins, enabling companies to bypass the traditional banking system and achieve cross-border funds management with fast settlement, reduced fees and lower exchange rate fluctuation risks. Especially for B2B (business-to-business) payments, Bridge has cooperated with the Latin American cryptocurrency exchange Bitso.

Bridge completed a $58 million financing round in August this year, with investors including Sequoia Capital, Ribbit, Index and Haun Ventures.

BSOSTech: Supply Chain Finance Web3 Solution

BSOSTech aims to develop Web3 solutions that make traditional supply chain finance processes more efficient and transparent through its SUPLEX digital platform. The collaboration with ConsenSys and Tether further enhances BSOSTech's capabilities in blockchain and international finance, providing suppliers and enterprises with compliant, secure cross-border payment and financing services. These services can reduce the financial pressure of enterprises and promote the digital transformation of global supply chain finance.

Easy Labs: Programmable Payment Solutions

The solutions provided by Easy Labs enable enterprises and developers to manage payment and financial processes more efficiently and flexibly. Through SDK and code-free platform, users can design automated financial logic according to specific needs and fully automate the payment process, thereby reducing labor costs, improving efficiency, and reducing the risk of errors.

Helio Pay: Cryptocurrency Payment Gateway Supports Shopify

Helio Pay is a crypto payment solution that facilitates e-commerce, pre-sales, and NFT markets. By integrating Solana Pay technology, merchants can accept payments in multiple stablecoins (such as USDC, USDT, PYUSD) and enjoy the benefits of low fees, instant settlement, and global accessibility. In addition, NFT holders can also receive benefits such as discounts, cNFT airdrops, and Discord membership. Helio Pay also supports automatic conversion of cryptocurrency proceeds into fiat currency, helping merchants reduce the risk of price fluctuations.

PolyFlow: Web3 Supply Chain Finance Platform

PolyFlow is a multi-chain PayFi protocol that supports users to register payment IDs (PIDs) on multiple blockchain networks, manage funds and generate income through self-hosted wallets, and is compatible with DeFi services. Users can apply for PolyFlow payment cards, top up with crypto assets and spend globally. PolyFlow also cooperates with Roam and Huma Finance to participate in the DePIN hardware loan program to provide on-chain supply chain financial support for IoT projects and accelerate the deployment of hardware facilities.

Portal: Cryptocurrency Payment Gateway

Portal creates embedded crypto wallets for mobile devices and Web3, with features including MPC API and account abstraction. It provides wallet solutions for banks, exchanges, and credit card issuers.

Pay With Ripe: A cryptocurrency payment gateway focused on Southeast Asia

Pay With Ripe focuses on providing crypto payment services for merchants in Southeast Asia. It provides QR code scanning payment function for cryptocurrency wallets such as Phantom. It can scan merchant QR codes for cryptocurrency payments.

Sphere Labs: Cryptocurrency Payment Gateway

Sphere Labs provides encrypted payment infrastructure, supports merchants to use payment gateways, subscription services, payment links and invoice modules, and processes transactions through multiple blockchain networks (such as Solana, Polygon, Avalanche). It also launched a bank-to-wallet Telegram extension, allowing users to convert and transfer fiat currencies and cryptocurrencies within Telegram, and plans to officially launch it later this year, supporting association with US dollar or euro accounts, and early users enjoy a transaction fee rate of 0.1%.

TLay: PayFi combined with DePIN

TLay is DePIN's digital trust layer, which uses blockchain technology to register and manage physical assets on the chain, connecting the physical world with the digital world. It has developed the PayFi system in collaboration with Huma Finance, providing instant financing and automatic underwriting services based on on-chain cash flow, and ensuring data transparency and device trust through innovative risk management tools, promoting the security and sustainable development of the DePIN ecosystem.

Zoth: RWA Fixed Income Market

Zoth is a decentralized finance company focused on tokenizing RWAs. Its product ZTLN (Tokenized Fixed Income Note) is backed by low-risk assets such as U.S. Treasury bills and top-rated corporate bonds with a total value of $100 million. ZTLN provides institutions and qualified investors with a transparent, audited and liquid blockchain fixed income option, bridging the gap between CeFi and DeFi.

In August this year, Zoth completed a $4 million financing, with investors including Taisu Ventures, G20, Fat Cat Ventures, Coinbase and Hedera. Ripple's XRPL Foundation also supports the project. 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.