With the help of our business partner Kemix, PumaPay can offer a Fiat Settlement Layer when withdrawing funds. All this means is that Merchants will be able to easily convert the crypto they receive into fiat!
So, who are Kemix?
Kemix is an algorithmic trading company and they basically connect exchanges and trading with everyday cryptopayments.
Their main aim is to eliminate the volatility risk for merchants and ensure that they receive the best rates for their cryptocurrency.
What is the Fiat Settlement Layer?
The Fiat Settlement Layer allows you to exchange your PMAs for fiat currency, without the hassle of actually dealing with an exchange!
With no hidden commissions, you receive the best prices and the funds are delivered directly to your bank account.
Zero volatility, 100% liquidity!
What is Kemix’s role in this?
Well, after the Merchant has received PMAs from the customer as payment, it’s Kemix’s job to liquidate the PMAs to fiat.
Kemix constantly monitors the Merchant’s wallet and uses its algorithm to match the buys/sells taking place on the exchanges. The PMAs are then converted to Stablecoin which is, in turn, exchanged for fiat, with a full transaction report and proof and payment sent to the Merchant.
So, all the Merchant has to do is decide how often they would like their PMAs to be converted (daily, weekly, monthly, etc.)!