Huma, whose platform reached more than $47M credit origination, understands the transformative potential within the Celo ecosystem, especially for early-stage businesses providing real-world solutions for communities and ecosystems that lack access to capital. With this strategic integration with Celo, Huma will tokenize receivables and provide risk management services, benefiting organizations focused on unlocking access to capital like impactMarket, Jia and Arf.
What drives our commitment to building a lending ecosystem on Celo include its Ethereum compatibility, the adoption of cUSD as a native gas currency, its unique stance as a carbon-negative blockchain, and the 1,000+ impactful ecosystem projects. These elements not only align with our mission of making finance more accessible but also show our commitment to delivering lending expertise that enhances commercial viability, enabling investors to identify investment opportunities on the Celo platform.
"By integrating with Celo, Huma is not only expanding its reach and technological capacity but solidifying an integral role as the strategic gateway for ecosystem growth, particularly in credit and real-world assets that benefit the 99%," says Erbil Karaman, Co-CEO and Co-founder of Huma.
Adding to this, Isha Varshney, Head of DeFi at the Celo Foundation, says, "Huma’s team brings deep expertise of credit and lending, coupled with its focus on deploying liquidity to emerging markets, makes this partnership an exciting step forward for bring more real-world assets to the Celo ecosystem."
This collaboration begins with multiple partners from the Credit Collective and the Celo ecosystem, including impactMarket, Jia and Arf. Together with Huma, they are challenging conventional lending models by offering more accessible financial solutions.
"We are excited to partner with Huma and the Celo Foundation in our mission to make fair financing available to entrepreneurs worldwide," said Zach Marks, CEO and Co-founder of Jia, which provides small business loans in emerging markets.
Recently, the Credit Collective, a fund established by contributors and members of the Celo community to bring RWAs on-chain, saw the successful approval of governance proposal CGP-84, allocating 2M cEUR. This milestone highlights the increasing interest and expansion of the on-chain credit market within the Celo ecosystem.
Both Huma and the Celo Foundation share a commitment to using blockchain technology to broaden financial access and inclusion. This partnership shows their dedication to developing innovative financial solutions that can facilitate economic growth and development on a global scale.
About Celo: Celo is a carbon-negative, emerging Ethereum layer-2 blockchain with a rich ecosystem of global partners building innovative Web3 applications within the DeFi, ReFi, and NFT sectors on Celo. Accessible to anyone with a mobile phone, the Celo ecosystem consists of a decentralized, proof-of-stake blockchain technology stack (the Celo Platform), the CELO native token, and several Mento stable assets (cUSD, cEUR, cREAL) that enable anyone to use digital assets. Launched on Earth Day in 2020, the open-source Celo mainnet supports 1,000+ projects by developers and creators located around the world.
About the Celo Foundation: The Celo Foundation was founded to support the growth and development of the decentralized, open-source, mobile-first Celo platform to help build a regenerative financial system that creates the conditions of prosperity for all. The Foundation is guided by the Celo community tenets and contributes to education, technical research, environmental health, community engagement, and ecosystem outreach—activities that support and encourage an inclusive financial system. For more about Celo, visit https://celo.org/.
About Huma: Built by serial entrepreneurs, fintech, and credit veterans, Huma Finance is the leading credit platform, where high-performing receivables from real-world businesses connect with global capital on-chain. Learn more https://huma.finance/.