Huma and Arf bring credit services to the Circle Payment Network

Arf and Huma said they are joining the Circle Payment Network (CPN) as new financial service providers to the network and will offer credit services available to eligible institutions.

At the 'Circle Forum Singapore' held in Singapore on the 30th of last month, Arf announced that it will join CPN based on Huma's PayFi network and plans to add credit functionality to the network. Arf is a global liquidity platform regulated in Switzerland that supports liquidity enabling same-day payment and settlement of USDC. With this addition, eligible participating institutions will be able to process payments using USDC on credit when needed, without having to prefund.

CPN is a stablecoin-based global payment infrastructure built by Circle that enables financial institutions and businesses to settle real-time payments in USDC and EURC. Previously, cross-border payments had the inconvenience of funds being tied up due to prefunding, but with Arf and Huma joining, eligible participants can immediately access USDC credit in certain regions without prefunding. Circle said CPN has added various services including credit, liquidity, custody, fraud prevention, and settlement, providing an environment where participants can move funds faster and more cheaply.

Ali Erhat Nalbant, Arf's co-founder and chief executive officer (CEO), said, "We are pleased to provide our liquidity infrastructure to CPN," and added, "We are helping many financial institutions reduce their reliance on prefunding based on Huma's PayFi network." He also added, "This integration will allow eligible CPN participants to access our services smoothly."

Irfan Ganchi, Circle's Senior Vice President (SVP) of Product Management, said, "One of CPN's design principles is that it is an open network that can be continuously upgraded," and added, "With Arf and Huma added as service providers, eligible CPN participants will enjoy a smoother experience when sending funds immediately."