A new credit primitive on Ethereum
Huma is the leading PayFi protocol, powering real-world payment financing onchain. At the center of its liquidity engine is the PayFi Strategy Token ($PST), Huma's flagship yield-bearing token. It represents deposits into receivables-based credit lines extended to licensed cross-border payment institutions. The return comes from interest and origination fees on this short-duration lending, a structure distinct from the treasury and staking exposures already dominant on Ethereum.
PST listed as collateral on Ethereum mainnet through Morpho on June 10, 2026. Deposits into that vault crossed $16 million within the first week, and PST's total supply across chains has passed $225 million. Sentora’s RWA vaults have been among the market’s most successful, and this new vault builds on that proven approach to help institutional allocators scale PST exposure on Ethereum.
A return stream tied to real-world payment flows
PST's yield depends on repayment by licensed payment institutions drawing short-term financing to pre-fund settlement corridors. That repayment tracks the operating cash flow of payment businesses rather than crypto market sentiment. Huma processed over $17 billion in total transaction volume, including $8 billion in cumulative origination with zero-default records to date.
The new vault is a dedicated PST vault, with PYUSD as the deposit asset. It applies a conservative loan-to-value and defined exposure caps, reflecting the credit and liquidity profile of the underlying receivables. This vault adheres to Sentora’s strict risk mitigation approach. You can find a full assessment of the PST asset here: https://sentora.com/asset-risk-reviews/huma
Why Tokenized Credit in DeFi Earn Infrastructure
For fintechs and exchanges building earn products, tokenized credit introduces a different source of yield alongside crypto-native lending, staking, and tokenized treasuries. Assets such as PST provide exposure to short-duration credit backed by real-world payment activity, where returns are driven primarily by borrower repayments and transaction flows rather than onchain leverage or crypto market direction. This can diversify the economic drivers of an Onchain Earn portfolio, while onchain structures can provide greater visibility into collateral, exposure, and portfolio parameters.
For Sentora, the vault extends a curation practice already applied across more than $2 billion in capital deployed in DeFi, including other real-world credit primitives and will be integrated across a range of Sentora Embedded Earn programs with major fintech and exchange partners.
The Sentora PST vault on Morpho is available starting today. Allocators can review vault parameters, current loan-to-value settings, and exposure caps directly through Morpho before depositing.
