The RockawayX-curated Huma USDC Main vault is now live on Morpho.
The vault serves as a single access point to lending against Huma's PayFi collateral, allowing users to deposit USDC and earn yield generated by borrow demand against PST. At launch, the vault allocates deposited USDC into an isolated PST/USDC market, allowing users to earn lending interest paid by borrowers who post PST as collateral.
PayFi Strategy Token ($PST) is Huma's yield-bearing PayFi asset, backed by short-duration cross-border payment receivables. Unlike many private credit products that lock capital for months or years, the receivables underlying Huma's network typically turn over in one to seven days, creating a continuously recycling source of real-world yield.
The vault is designed to expand alongside Huma’s PayFi ecosystem. Additional Huma-linked markets may be added over time through our curation framework without requiring users to migrate capital, while maintaining isolated exposure and explicit risk controls.
Why Build Around Huma’s PST
Huma is the leading PayFi network powering real-world payment financing onchain. With over $14 billion in transaction volume processed and zero defaults, it has become one of the largest real-world stablecoin use cases. Its infrastructure converts short-duration payment receivables into onchain collateral and yield opportunities, enabling licensed payment companies and trade finance platforms to access instant stablecoin liquidity while allowing capital providers to earn sustainable returns decoupled from crypto market volatility, backed by real-world financial activity.
What makes Huma particularly compelling is the structure of the underlying assets. At the center of its liquidity engine is Huma’s PayFi Strategy Token ($PST), a USDC-denominated yield token that captures its returns primarily from cross-border payment flows. This is Huma’s core vertical, powered by its Swiss-regulated entity Arf, which provides settlement liquidity to licensed financial institutions and money service businesses.
Instead of financing long-duration credit exposure, Huma's PayFi infrastructure is built around self-liquidating cross-border payment receivables that typically settle within days. The result is a continuously recycling source of yield that differs from many traditional RWA strategies while remaining transparent and verifiable onchain.
RockawayX As Curator
As curator, RockawayX is responsible for market selection, allocation decisions, and ongoing risk oversight. Our team independently monitors collateral quality, liquidity conditions, reserves, and oracle infrastructure while setting exposure limits and supply caps across supported markets. We also provide ongoing secondary liquidity for PST, helping ensure market depth and stability.
The vault remains fully non-custodial, operates through Morpho's isolated market architecture, and includes a 24-hour timelock on material changes.
With this launch, Ethereum users can now access Huma's PayFi yield primitive through a professionally curated vault built around transparency, risk management, and capital efficiency. We're excited to continue supporting the expansion of PayFi infrastructure and helping bring new categories of real-world yield onchain.
About RockawayX
RockawayX is a leading digital asset investment firm operating across venture, liquidity, curation, and infrastructure, with over $2 billion in collective assets under management. Through its evolved approach to onchain yield, the firm applies institutional-grade credit underwriting to construct, monitor, and manage diversified exposure across stablecoin and real-world asset strategies.
This framework is supported by advanced allocation models, automated risk controls, and real-time opportunity detection, enabling the firm to maintain a zero-default record across CeFi and DeFi lending since 2022.
In periods of heightened market volatility, RockawayX can also deploy proprietary capital to stabilize markets and backstop liquidations. The firm’s market neutral fund has provided > $1bnm in TVL over the last four years.
About Huma
Huma Finance is the first PayFi Network, accelerating global payments with instant access to stablecoin liquidity. To date, Huma has processed over $14 Billion in transactions with zero defaults, enabling licensed payment providers and trade finance platforms to access instant stablecoin liquidity by borrowing against short-duration receivables. PayFi Strategy Token ($PST) is the network's USDC-denominated yield primitive, backed by real-world payment financing flows.
Learn more at huma.finance
About Morpho
Morpho is the most trusted onchain lending network with $11B+ in deposits trusted by the world's largest fintechs, banks, and institutions. Businesses can connect to Morpho's open infrastructure to power any lending or borrowing use case at scale, including embedded crypto-backed loans and custom yield solutions.
