PumaPay Raises $117M in Private Token Sale

LOS ANGELES—Decentralized Vision, the Cyprus-based blockchain company, announced it ended the private sale for its PumaPay project by raising $117 million on May 7.   The fundraising has resulted in the Token Generation Event that produced the total supply of 78,042,956,829 PMA tokens. Besides achieving the fundraising milestone, PumaPay has signed up more than 40 companies with more than 10 billion dollar's worth of transactions per year as partners, the company reported. PumaPay’s PullPayment Protocol was created with the mission to incorporate crypto payments into daily life. Its 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. 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. "We are very proud and happy to have raised this amount of $117 million, leading us to generating 78,042,956,829 PMA tokens," said PumaPay CEO Yoav Dror. "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. It gives us the resource to expand our ecosystem, bringing more companies to adapt the protocol at this early stage. I would like to thank all our 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, introducing PMA as a payment method and creating a strong foundation for the PumaPay economy." PumaPay has collaborated with notable companies, including several adult entertainment giants, in various verticals in the adult industry. In total, more than 40 representatives of the adult industry known for their pursuit of innovation have come onboard with this project, the company said. Representatives of other industries have committed to implementing the PumaPay solution from inception. For example, Fashion TV, CCBill, platforms like Rent24, Backpack.io, ExposeBox are all on board, according to the company.