Long Asia @humafinance | previous @Ant_Intl | ex: @BNPparibas @Citi @StanChart
Singapore
Joined February 2019
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JessicaC retweeted
The Huma team will be in Singapore during @token2049 week.
From 5 to 9 October, Huma will be cohosting and participating in a series of events and private gatherings alongside strategic partners and leading institutions.
See you in 🇸🇬 next week. Full itinerary below ↓
JessicaC retweeted
Introducing PAPY—the Bitwise Premium RWA Vault, launching on @Morpho with @withAUSD.
PAPY earns yield by lending AUSD deposits programmatically against overcollateralized tokenized real-world assets—durable, traditional credit, brought onchain.
Loans are secured by a diversified basket of RWAs, including:
- PST by @humafinance — short-duration cross-border payment financing to institutions
- sUSDai by @USDai_Official — loans backed by the GPUs that power AI
- PRIME by @HastraFi — tokenized claims collateralized by prime home equity, in partnership with @Figure
Deposits are made in AUSD, Agora's stablecoin, which is fully backed by short-term U.S. Treasuries, overnight and reverse repo, and other liquid assets.
Bitwise determines the collateral and programs the risk parameters so you can access onchain yield backed by real-world value.
PAPY is live now on Morpho.
TradFi credit on DeFi rails. Onchain finance is here.
For more information, visit onchain.bitwiseinvestments.c…
Will be speaking at The Capital Summit Tokyo @CapSummitGlobal on 15 July alongside a great lineup with speakers from @gauntlet_xyz @pharos_network @kudasai_japan
DM me if you're coming to Japan Blockchain Week/WebX, would love to connect IRL if you're into payments financing, onchain credit and vaults.
7/15(水) 13:00-21:00
The Capital Summit Tokyoの登壇者が続々決定！
@CapSummitGlobal
\ 登壇者情報＆パネルテーマ公開 /
・Kudasai JP：Yohei Wakita 氏
・Huma Finance：Jessica Cao 氏
・Pharos Network：Laura Shi 氏
・Gauntlet：Nicholas Cannon 氏
@kudasai_japan @humafinance @pharos_network @gauntlet_xyz
イベント詳細・お申込みはこちら
defimans.com/2026/07/02/pres…
A start for many more to come
1/ Introducing Huma USDC Vault, live on @Morpho.
Solana's top performing PayFi yield primitive, now on Ethereum.
Curated by @RockawayX.
JessicaC retweeted
Mastercard is rolling out 24/7 stablecoin settlements.
Western Union launched USDPT on Solana.
MoneyGram launched MGUSD on Stellar.
Huma's APAC CEO @jessc2049 breaks down why Huma and PayFi are set to win as stablecoins continue to scale and regulatory clarity locks in.
1/
近期市场几笔大融资案例
OpenFX 估值 5 亿。Mastercard 18 亿拿下 BVNK。Tether 战略入股 Axiym。Kraken 6亿收购 Reap
逻辑没问题。但我越看越觉得,市场在 pricing 的,不是大家以为的那个东西。
2/
把这批”stablecoin-native”玩家的外壳剥开,底层就是 2018 年那批亚洲跨境 PSP——本地银行合作、虚拟账户、中间价 FX、API 接入。
加一层稳定币结算,是升级,不是另起炉灶。
3/
没人愿意放在 slide 上的 benchmark:
XTransfer,不是稳定币公司,4 月递表港交所,估值约 30 亿美金。营收 2.48 亿,毛利率 90%+,年交易额 600 亿+,全牌照。
这是公开市场对一家有审计、有利润、合规闭环的跨境 FX 公司的定价。
把这数字放在 OpenFX 那 5 亿旁边看一眼。
4/
那些战略支票,其实在买什么:
Tether→Axiym。
Circle + Ripple→Tazapay。
Visa + Citi→BVNK。
Stripe 11 亿买 Bridge。
都财务投资,是用股权买渠道，买末端合规。其实没问题 -只是换个角度
5/
然后巴西出手了。
4 月 30 日,BCB 561 号令——稳定币不能参与受监管的 eFX 跨境结算,10 月 1 日生效。
此前稳定币占巴西每月 60–80 亿美金加密跨境流量的约 90%。一纸文件,没了。其他司法辖区都在拿着同一本剧本读。
6/
US MSB + 合作银行的组合,监管边界宽松的时候跑得通。
而未来 24 个月真正的问题不是谁跑得快,是下一个 BCB 561 砸下来时,谁的牌照护城河还在。
可能我看偏了,欢迎打脸
JessicaC retweeted
PST meets institutional infra.
Following an extensive security review, Huma selects @chainlink CCIP as the exclusive cross-chain infrastructure for PST and all future yield products.
$12B+ in total transaction volume & zero credit defaults needs the highest safety standards.
After a rigorous security evaluation, leading PayFi network @humafinance has selected Chainlink CCIP to power its cross-chain yield products for 100K+ users.
Huma is adopting CCIP because it provides the highest level of security and unlocks the expansion of PST across chains.
4月还没结束，北韩和波斯黑客把Defi 当提款机逻辑没变, 这次是国家级资金需求撞上了行业安全基础设施的系统性空洞。
恰逢四年周期底部，烂账开始浮出水面，裁员潮已经在路上。
打仗+ 被盗+ 裁员 这个剧本，历史上演过几次：
2001年，9/11之后打了阿富汗伊拉克，科网泡沫烂账集中暴露，安然世通造假崩盘，科技业裁员潮。
2014年，克里米亚危机，油价崩，Mt. Gox被盗85万比特币，第一轮币圈寒冬。
2022年，俄乌全面开战，美联储暴力加息，FTX、三箭、Celsius多米诺倒下，科技业裁员25万。
每次的逻辑不是耦合的，是因果的：地缘割裂 - 信用收缩 - 烂账暴露 - 行业洗牌
Defi 是加速版本的Tradefi美林时钟的放大镜，节奏更快，幅度更狠。
马上凉了的小作文看看就行了，历史告诉我们都会回来。
Richard这四个问题问的是DeFi，但底层逻辑适用于所有项目：别假设防线不破，要设计”破了之后还能活”的系统.
从TradFi到PayFi，我见过太多风控框架在压力测试里只是好看 - 真正的韧性是尾部情景下损失有上限、恢复有路径.
乱世里最贵的不是收益，是活下去的设计余量。
刚分享了一篇关于 DeFi 安全架构的长文思考。
进入 2026，针对 Admin 凭证的攻击已成常态。现在大家讨论的焦点是 OpSec。这诚然很重要，但远远不够。我们还得从系统设计上加宽护城河。
兵法云“未虑胜，先虑败，故可百战而不殆”——防守的最高境界是“假设防线必将被破”。如果明天你的多签和时间锁全盘失守，你的协议还能活下来吗？
每一个 DeFi 建设者都该问自己 4 个问题：
🔸 黑客拿到 Admin 权限后，到底能通过哪些路径卷走资金？
🔸 资金流转是否被物理隔绝在了“预设白名单”合约之间？
🔸 如果发生非预设地址的转账，链上是否有严格的熔断或限额机制？
🔸 任何 Mint 行为，是否有实时的链上抵押物健康度校验？
尽量让管理员失去提现的能力。必须有交互时，用合约调用合约，避免私钥签名。Admin 签名的自由转账权限应当被视为最后手段，并且要把敞口上限设到极其苛刻。这肯定会增加运营的复杂度，但也确保了损失的上限。
目标很明确：尽量不出事，退一万步讲，就算百密一疏，也不能是灭顶之灾。
完整逻辑见下 👇
JessicaC retweeted
刚分享了一篇关于 DeFi 安全架构的长文思考。
进入 2026，针对 Admin 凭证的攻击已成常态。现在大家讨论的焦点是 OpSec。这诚然很重要，但远远不够。我们还得从系统设计上加宽护城河。
兵法云“未虑胜，先虑败，故可百战而不殆”——防守的最高境界是“假设防线必将被破”。如果明天你的多签和时间锁全盘失守，你的协议还能活下来吗？
每一个 DeFi 建设者都该问自己 4 个问题：
🔸 黑客拿到 Admin 权限后，到底能通过哪些路径卷走资金？
🔸 资金流转是否被物理隔绝在了“预设白名单”合约之间？
🔸 如果发生非预设地址的转账，链上是否有严格的熔断或限额机制？
🔸 任何 Mint 行为，是否有实时的链上抵押物健康度校验？
尽量让管理员失去提现的能力。必须有交互时，用合约调用合约，避免私钥签名。Admin 签名的自由转账权限应当被视为最后手段，并且要把敞口上限设到极其苛刻。这肯定会增加运营的复杂度，但也确保了损失的上限。
目标很明确：尽量不出事，退一万步讲，就算百密一疏，也不能是灭顶之灾。
完整逻辑见下 👇
JessicaC retweeted
Our APAC CEO @jessc2049 on stage during PayFi infrastructure: Web3 Payment panel @festival_web3
Asia alone processed $245B in stablecoin payments, the pipes are being laid in real time.
Bear market or not, the build doesn’t stop.
Huma turns 4 today!
Huma Turns 4 today.
Huma was founded on April 20, 2022 with a clear mission — to accelerate the movement of money for a world that is always on.
This is the story behind that mission.
The inspiration came from our founders’ experience building EarnIn, a leading payment financing app. EarnIn helped tens of millions of Americans access their wages in real time instead of waiting for weeks, avoiding end of month cash flow challenges that often led to debt spirals.
It wasn't easy. Even after scaling EarnIn to more than $10B in cashouts with less than 1% loss rates, it was difficult to find lenders willing to finance payment gaps for a few days.
Retrofitting AI-driven real-time solutions on top of existing banking infrastructure revealed a stark truth. The future of finance could not be built on legacy rails.
So, they left EarnIn to build a new payment financing layer at global scale. The first prototype won the DeFi track at EthDenver. Shortly after, Huma was founded.
Huma 1.0 launched in 2023 with a handful of LPs and early partners believing in our mission, building alongside us.
Each partner validated a different real world use case:
- Arf focused on cross-border payments
- Rain focused on card settlement
- Jia focused on trade finance
In early 2024, Huma crossed $1B in transaction volume. It became clear that Arf's regulated infrastructure is critical to onboard larger global payment companies. The two teams merged, combining onchain infrastructure with regulated financial rails. Since then, the network has grown 10x.
@SolanaFndn was first to recognize PayFi’s potential and offered a partnership to build the category. Huma went all in, rebuilding its stack on Solana, believing global liquidity solutions belong to the fastest growing ecosystem with the highest TPS.
Huma 2.0 and PST (PayFi Strategy Token) launched in April 2025, followed by the HUMA token in May with full ecosystem alignment. Partnerships with @JupiterExchange and @kamino helped scale PST, letting everyone on Solana access yield from real world payment flows.
Our leadership in the ecosystem was recognized by an invitation to the Genius Act signing ceremony at the White House.
Huma now leads the PayFi category with measurable scale:
- $12B total transaction volume
- $160M active liquidity
- 100K+ depositors
- PST has become a core onchain yield primitive
All of this is to say, thank you.
To the teams at Huma and Arf, our investors, and every partner who backed PayFi before it had a name, thank you.
To our community, none of this happens without you.
As the first PayFi network, we have come a long way in advancing our mission to accelerate the movement of money for a world that is always on. There is still much more to build.