Interpreting the PayFi Summit Lineup: 12 Major Projects with Combined Funding Exceeding $100 Million
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Interpreting the PayFi Summit Lineup: 12 Major Projects with Combined Funding Exceeding $100 Million
covering multiple areas such as cross-border payments, RWA tokenization, and Web3 financial infrastructure.
Navigating Web3 tides with focused insightsCompilation: J1N, Techub News
During the Singapore 2049 Summit, the "PayFi Summit," co-hosted by Huma Finance, Solana, and StellarOrg, was successfully held. The summit brought together leading projects in blockchain payments and showcased 12 innovative initiatives spanning cross-border payments, RWA tokenization, Web3 financial infrastructure, and other fields.
Huma Finance, one of the organizers and an RWA tokenization platform, raised $38 million in funding 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 address liquidity needs in trade finance using blockchain technology to enable faster settlements.
Arf: Global Cross-Border Payment and Settlement Platform for Cryptocurrencies
Arf is a global cross-border payment and settlement platform built on USDC stablecoin, providing licensed money service businesses (such as payment processors and remittance companies) and financial institutions with cryptocurrency-based working capital and settlement services. By optimizing payment workflows, Arf aims to resolve capital lock-up issues inherent in traditional cross-border payments.
In October 2022, Arf completed a $13 million seed round with investors including Circle Ventures, Stellar Development Foundation (SDF), UOB Venture Management, Signum Capital, Hard Yaka, NGC Ventures, Blockchain Founders Fund, and 500 Emerging Europe. The funding supports global treasury management and revolving credit lines for working capital tailored to financial institutions and licensed money service providers in the cross-border payment industry.
BackedFi: RWA Asset Tokenization Platform
BackedFi is an EU-regulated RWA asset tokenization platform offering various tokenized real-world assets, including ERC-20 compatible versions of traditional exchange-traded funds (ETFs) and tokenized stocks. The company has partnered with cryptocurrency firm INX to launch tokenized shares of Tesla (bTSLA), Microsoft (bMSFT), Google (bGOOGL), GameStop (bGME), S&P 500 Index ETF (bCSPX), as well as tokenized Apple (bAAPL) and BlackRock's iShares Treasury Bond (bIB01).
These assets are created under EU securities regulations, tokenized on the Polygon Proof-of-Stake network, and backed 1:1 by their underlying physical shares. These newly listed tokenized securities allow traders to benefit from 24/7 trading access, fractional ownership, and blockchain-level security. Eligible investors can trade these traditional securities outside regular market hours and fund accounts using cryptocurrencies.
Bridge: Stablecoin-Based Cross-Border Payment Platform
Bridge leverages stablecoins to build an efficient, low-cost payment platform enabling enterprises to bypass traditional banking systems and achieve fast settlement, reduced fees, and lower foreign exchange volatility risks in cross-border treasury management. Focused particularly on B2B (business-to-business) payments, Bridge has partnered with Latin American cryptocurrency exchange Bitso.
In August this year, Bridge secured $58 million in funding from investors including Sequoia Capital, Ribbit, Index, and Haun Ventures.
BSOSTech: Web3 Solutions for Supply Chain Finance
BSOSTech aims to develop more efficient and transparent Web3 solutions for traditional supply chain finance processes through its digital platform SUPLEX. Collaborations with ConsenSys and Tether have strengthened BSOSTech’s capabilities in blockchain and international finance, delivering compliant and secure cross-border payment and financing services to suppliers and enterprises. These services help reduce corporate liquidity pressures and drive digital transformation across global supply chain finance.
Easy Labs: Programmable Payment Solutions
Easy Labs offers solutions that empower businesses and developers to manage payments and financial workflows more efficiently and flexibly. Through SDKs and no-code platforms, users can design automated financial logic tailored to specific needs, achieving full automation of payment processes—reducing manual labor costs, improving efficiency, and minimizing error rates.
Helio Pay: Crypto Payment Gateway Supporting Shopify
Helio Pay is a cryptocurrency payment solution designed for e-commerce, presales, and NFT markets. By integrating Solana Pay technology, merchants can accept multiple stablecoins (e.g., USDC, USDT, PYUSD), enjoying benefits such as low transaction fees, instant settlement, and global accessibility. Additionally, NFT holders receive perks like discounts, cNFT airdrops, and Discord membership privileges. Helio Pay also supports automatic conversion of crypto earnings into fiat currency, helping merchants mitigate price volatility risks.
PolyFlow: Web3 Supply Chain Finance Platform
PolyFlow is a multi-chain PayFi protocol allowing users to register Payment IDs (PIDs) across multiple blockchain networks, manage funds and generate yield via self-custodial wallets, and access DeFi services. Users can apply for PolyFlow payment cards funded with crypto assets and spend globally. PolyFlow collaborates with Roam and Huma Finance on DePIN hardware lending programs, providing on-chain supply chain finance support for IoT projects and accelerating hardware deployment.
Portal: Cryptocurrency Payment Gateway
Portal builds embedded crypto wallets for mobile devices and Web3 applications, featuring MPC API and account abstraction. It provides wallet solutions for banks, exchanges, and credit card issuers.
Pay With Ripe: Southeast Asia-Focused Cryptocurrency Payment Gateway
Pay With Ripe focuses on providing crypto payment services to merchants in Southeast Asia. It enables QR code payments for cryptocurrency wallets such as Phantom, allowing users to scan merchant QR codes to complete crypto transactions.
Sphere Labs: Cryptocurrency Payment Gateway
Sphere Labs offers crypto payment infrastructure, supporting merchants with payment gateways, subscription services, payment links, and invoice modules, processing transactions across multiple blockchain networks including Solana, Polygon, and Avalanche. It has launched a bank-to-wallet Telegram extension enabling users to convert and transfer fiat to crypto directly within Telegram. This feature is set to officially launch later this year, supporting integration with USD or EUR bank accounts, with early adopters benefiting from a 0.1% transaction fee.
TLay: PayFi Integrated with DePIN
TLay serves as the digital trust layer for DePIN, utilizing blockchain technology to register and manage physical assets on-chain, bridging the physical and digital worlds. In collaboration with Huma Finance, TLay has developed a PayFi system that offers instant financing and automated underwriting based on on-chain cash flows. Through innovative risk management tools, it ensures data transparency and device authenticity, promoting security and sustainable growth within the DePIN ecosystem.
Zoth: RWA Fixed-Income Market
Zoth is a decentralized finance company focused on RWA tokenization. Its product, ZTLN (Tokenized Liquid Notes), is backed by low-risk assets such as U.S. Treasuries and top-tier corporate bonds, with a total value of $100 million. ZTLN offers institutions and qualified investors transparent, audited, and highly liquid fixed-income options on blockchain, bridging the gap between CeFi and DeFi.
In August this year, Zoth raised $4 million in funding from Taisu Ventures, G20, Fat Cat Ventures, Coinbase, Hedera, and Ripple’s XRPL Foundation. The funds will be used to expand the market reach of its Tokenized Liquid Note product, strengthen its team, and accelerate market penetration.
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