Huma Joins Paxos-Led Global Dollar Network to Advance Stablecoin Use on Solana
The move aligns with growing stablecoin activity on Solana and Huma’s focus on cross-border payment infrastructure
- Published: Jun 4, 2025 at 11:48
- Edited: Jun 4, 2025 at 13:06
Huma has joined the Global Dollar Network (GDN), a Paxos-led initiative aimed at advancing the adoption of USDG, a US dollar-backed stablecoin designed for regulatory compliance and global utility. The announcement follows a string of recent developments from Huma, including the launch of its native token, $HUMA.
Launched by Paxos and powered by USDG, the GDN features major industry players, including Robinhood, Kraken, Anchorage, Nuvei, and Worldpay.
USDG is issued by Paxos Digital Singapore and is structured to comply with the Monetary Authority of Singapore’s forthcoming stablecoin framework. The token is available on multiple public chains, with Solana designated as the preferred network due to its low fees, speed, and scalability. Current stablecoin activity on Solana ranges between $3.5 billion and $4 billion in daily volume.
Fueling Growth With Yield and Liquidity
Huma’s platform currently offers a fixed 10.5% APY on stablecoin deposits, a key driver behind its $103 million in active liquidity. These deposits fund payment-backed lending across its PayFi network, which has already processed over $4.5 billion in transactions to date.
Erbil Karaman, Huma’s co-founder, noted the need for industry-wide coordination to unlock the utility of stablecoins. “Single issuer stablecoins fail to create the network effect needed to accelerate adoption,” he said, citing the GDN as a model for collaborative growth.
Huma’s participation in the GDN underscores its focus on scaling the PayFi ecosystem, a real-time finance infrastructure backed by stablecoins and on-chain credit. The company has processed over $4.5 billion in payment-backed lending transactions, serving a global market estimated at more than $30 trillion annually.
Momentum Builds Behind USDG
Paxos’ Head of Product, Ronak Daya, pointed to Huma’s infrastructure as critical for solving friction in cross-border liquidity and pre-funding, key hurdles for remittances and international settlements.
With regulatory frameworks like the GENIUS Act taking shape, GDN and Huma’s collaboration signals a maturing moment for stablecoin-backed finance, especially on Solana’s high-throughput rails.
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