Cyprus-based blockchain firm Decentralized Vision has raised $117m following a private token sale for its PumaPay transaction processor. PumaPay’s PullPayment Protocol reverses the usual transaction mechanism by enabling sellers to “pull” funds from a customer’s account, a system it says reduces the costs and chargebacks associated with traditional banking methods. Businesses from other industries, including Fashion TV, CCBill, Rent24, Backpack.io, and ExposeBox, have also committed to the platform. The company is also working on an app that will allow users to buy goods using cryptocurrency without having to go through banks.
Cyprus-based blockchain firm Decentralized Vision has raised $117m following a private token sale for its PumaPay transaction processor. PumaPay’s PullPayment Protocol reverses the usual transaction mechanism by enabling sellers to “pull” funds from a customer’s account, a system it says reduces the costs and chargebacks associated with traditional banking methods. The company is also working on an app that will allow users to buy goods using cryptocurrency without having to go through banks.