The PayFi Strategy Token (PST) from Huma Finance has reached a market capitalization of $322 million. This figure represents a doubling of the asset's value since April, when the market cap stood at approximately $158 million. By July, the token reached $200 million, continuing its growth through mid-September.
PST functions as a yield-bearing asset for USDC deposits, which are lent to licensed payment institutions for short-term financing. Loan periods typically last between one and five days. The protocol offers an annualized yield estimated between 7% and 9%, with a reported record of zero credit defaults since its inception.
Huma Finance recorded cumulative transaction volumes exceeding $14 billion by the end of June, marking a 67% increase in the first half of the year. As of June 30, the outstanding balance for PST reached $181.8 million, while collateral on Solana lending markets climbed to $75.3 million.
The protocol has expanded its reach beyond the Solana blockchain through integrations with Morpho and Fluid on Ethereum. Institutional participants, including Bitwise and Coinbase Asset Management, have engaged with the offering. Governance of the protocol is managed by the separate HUMA token, which has a circulating supply of 1.73 billion out of a 10 billion maximum.
