Conflux Foundation is set to invest $500 million from its ecosystem fund to support the growth of PayFi, a blockchain-based payments platform. The platform aims to bring traditional finance services like credit cards, invoice financing, and reverse factoring onto the blockchain to create a more integrated value network. PayFi is built on the Conflux blockchain, which is focused on stablecoin and payment infrastructure for consumer-grade payments. The development of blockchain applications with intuitive user experiences could attract more mainstream cryptocurrency users, as current decentralized finance (DeFi) applications face usability challenges that are a major barrier for new crypto investors.

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