PlasmaPay & Plasma.Finance

PlasmaPay, operating under Plasma Alliance OÜ, was established in 2017 by founder and CEO Ilia Maksimenka. Based in Tallinn, Estonia, the company leverages the country's progressive regulatory environment for financial technology. Maksimenka, who holds an MA in Economics and an MBA, has a background in corporate finance, stock exchanges, and financial technology, and founded several startups in finance and AI prior to PlasmaPay. His journey in the crypto space began in early 2013, with the goal of bridging traditional finance with the crypto economy by addressing the critical issue of fiat on-and-off ramps.

The company functions as a global digital payment platform, providing services for both individual and commercial clients across more than 160 countries. It offers crypto/fiat wallets and fiat on/off-ramp services, enabling users to securely store, buy, exchange, and transact with both digital and traditional currencies. For businesses, PlasmaPay provides a payment gateway API and tools for processing payments, including plugins for checkout pages and invoice creation. Revenue is generated through transaction fees from these services. The platform supports a wide range of payment methods, including credit cards, bank wires, and e-wallets, through partnerships with financial institutions and processors like Simplex and Ramp.

In a significant expansion of its services, PlasmaPay launched Plasma.Finance in December 2020. This platform acts as a decentralized finance (DeFi) aggregator, designed to simplify the complexities of the DeFi landscape for both new and experienced users. It consolidates popular DeFi protocols into a single, user-friendly dashboard, offering tools for portfolio management, liquidity provision, lending, borrowing, and cross-chain swaps. Plasma.Finance supports multiple blockchains, including Ethereum, Binance Smart Chain, and Polkadot, and integrates with Web 3.0 wallets like Metamask. A key component is the HyperDEX trading platform, which aggregates liquidity from various decentralized exchanges to offer users competitive rates. Another notable feature is the SpacePort IDO launchpad, introduced in June 2021, which facilitates crowdfunding for new crypto projects.

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