PumaPay and Glosfer/HYCON Sign MoU for Strategic Partnership
Glosfer/HYCON and PumaPay have signed MoU for a Series of blockchain projects
-Aiming to increase blockchain use cases through business collaborations-
SEOUL, KR, December 19, 2018
Glosfer/HYCON, a first generation blockchain enterprise in Korea, and PumaPay, a blockchain based billing payment protocol in Cyprus have co-announced that they signed a memorandum of understanding to collaborate on several blockchain-related projects. The agreement will allow them to share their knowledge and expertise with blockchain-based projects led by local organizations and authorities across several Korean public sectors.
PumaPay’s innovative open-source blockchain-based billing protocol draw the attention of top brands such as IronFX and FashionTV among many others which have committed to implement the protocol. The project has been designed with the purpose of delivering a usable protocol that any business can adopt to its own logic. By coming to replace the old system of credit cards and chargebacks, PumaPay introduces a unique PullPayment cryptobilling service, allowing flexible billing payment scenarios, including subscription payments. Among other exchanges, PumaPay has been listed for trading in Upbit’s BTC market as well as OKCoin Korea’s KRW market.
Glosfer/HYCON is a Korean first generation blockchain enterprise which has successfully launched its own coin HYCON that runs on its own Mainnet and has been listed on cryptocurrency exchanges worldwide. It has become the de facto leader among Korean blockchain firms while its technology powerhouse is recognized after obtaining blockchain project orders from Korean public organizations and government agencies such as the Nowon Cash for Nowon District, business proposal evaluation system for Yeongdeungpo District Office and the port management system for the Ministry of Oceans and Fisheries.
CEO Taewon Kim of Glosfer/HYCON said: “Glosfer/HYCON, which has already gained recognition by accomplishing government-related projects based on its extensive technical expertise, will support PumaPay’s entry to the Korean market.” Kim added that “Under the MoU with PumaPay, we will not only proceed with joint blockchain projects but also share our blockchain technology and pave the way to build blockchain use cases for the public.”
CEO of PumaPay, Yoav Dror said: “We have managed to create a strong PullPayment protocol and we are in the process of building various applications to support businesses and help individuals to pay and get paid in cryptocurrencies. Expanding our reach in Asia with an accomplished company such as Glosfer/HYCON and participating in several local blockchain projects will help boost the usability of the PMA token and strengthen our presence in the region.