Huma Joins Global Dollar Network to Promote Stablecoin Adoption on Solana

According to Chainwire, the payment financial platform Huma has officially joined the Global Dollar Network (GDN). This alliance, initiated by Paxos and supported by the stablecoin USDG, includes institutions like Robinhood and aims to promote stablecoin adoption through unified incentives, regulatory compliance, and global application.

USDG is a US dollar stablecoin issued by Paxos Digital Singapore, compliant with the upcoming stablecoin regulatory framework of the Monetary Authority of Singapore (MAS). This stablecoin can operate on public chains approved by MAS, such as Solana and Ethereum, with Solana being the preferred chain due to its efficient scalability, currently processing approximately $3.5 to $4 billion in stablecoin transactions daily.

Huma co-founder Erbil Karaman pointed out that a single issuer finds it challenging to create the network effect needed to drive stablecoin adoption, and joining GDN will accelerate the proliferation of the PayFi payment ecosystem. Huma has already processed over $4.5 billion in payment transactions, serving a global market exceeding $30 trillion. Paxos product head Ronak Daya stated that Huma's infrastructure will enhance the efficiency of cross-border capital flows, with USDG showing significant potential in the remittance sector.

USDG features real-time settlement and cross-border payment capabilities, with on-chain transaction volume surpassing $35 trillion in 2024. As the U.S. GENIUS Act advances regulatory clarity, the value of stablecoins as programmable financial infrastructure continues to be highlighted.