LOS ANGELES — Cyprus-based blockchain company Decentralized Vision has announced the conclusion of the private sale of its PumaPay token (PMA), reportedly raising $117 million by May 7.
PumaPay offers a free-of-charge open source blockchain-based protocol that decentralizes a whole layer of transaction processing services. The comprehensive and flexible protocol allows adaptors to process transactions using nearly all the familiar billing methodologies and combines the best of traditional methods (credit cards) and blockchain-based solutions.
According to the company, the fundraising resulted in a Token Generation Event that produced the total supply of 78,042,956,829 PMA tokens. In addition to achieving the fundraising milestone, PumaPay has signed up more than 40 partner companies with a reported $10 billion worth of transactions per year.
PumaPay CEO Yoav Dror says PumaPay’s PullPayment Protocol was created with the mission to bring crypto payments into daily life.
“Its innovative approach reverses the mechanisms of a transaction, enabling merchants to ‘pull’ crypto funds from their customers’ account, thus avoiding the drawbacks of the current banking systems, such as high transaction costs, the insecurity of chargebacks (reverse transactions) and associated fines, and the lack of customer anonymity,” Dror reveals. “PumaPay Protocol supports payment practices that have been impossible on the blockchain, including recurring payments with fixed and variable amounts, pay-per-use transactions, restricted and split payments, and more, enabling merchants to run their businesses the way they’re used to with credit cards.”
For his part, Dror is pleased at the ICO’s results.
“This great achievement will help us finish the development of our PullPayment Protocol, PumaPay wallets, the PumaPay Pride, and other innovative components to achieve our vision and values,” Dror explains. “It gives us the resource to expand our ecosystem, bringing more companies to adapt the protocol at this early stage.”
Dror thanks all contributors for their trust and support.
“It is also a great honor to have so many companies to have committed to adapt the Protocol from the onset,” Dror adds, “introducing PMA as a payment method and creating a strong foundation for the PumaPay economy.”
Dror says PumaPay has collaborated with notable companies, including several giants, in various verticals in the adult industry. Fashion TV, CCBill and platforms such as Rent24, Backpack.io and ExposeBox have committed to implementing PumaPay
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