Huma's PST token, backed by cross-border payment financing, is now accepted as collateral in Bitwise's Premium RWA Vault on Morpho, bringing $30T in annual global payment financing onchain.
RWA & Tokenization ·
Huma Finance's PST token, which derives value from short-duration cross-border payment financing extended to institutions, has been integrated as collateral into Bitwise's Premium RWA Vault (PAPY) on the Morpho protocol. The vault accepts three real-world assets total, with PST occupying a 46.80 percent allocation worth $4.900M and generating 5.89 percent APY as of September 8, 2026. Bitwise highlighted that approximately $30 trillion flows annually through global payment financing infrastructure, with the partnership representing an effort to move that settlement activity onto blockchain rails.
Huma reported processing over 17 billion payment-finance transactions without defaults, and the PST token captures yield from institutions that repay cross-border loans within days rather than months. The PAPY vault target yield sits at 5–6 percent, supported by total deposits of $10.471M on Ethereum; deposits carry no lock-up period and receive the receipt token PAPY. Diversification within the vault includes allocations to Hastra PRIME and sUSDai alongside Huma PST.
The partnership underscores broader moves to tokenize institutional payment finance, though questions remain about PST's performance during market stress and how payment default risk might materialize at larger onchain scales.