Binance, Okex, Huobi and Upbit invest in new stablein Terra

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It is already quite large, although new, stable ecosystem of coins joins another stabilin — Terra. Among the investors of the new project included four of the largest digital currency — Binance, Okex, Huobi and Upbit.

In the first investment round Terra managed to attract $ 32 million. Among the investors of the project — Binance Labs, Okex, Huobi Capital and Dunamu & Partners (an investment firm operator Upbit). In addition to exchanges, participation in the financing received, the company Polychain Capital, Capital FBG, Hashed, 1kx, Kenetic Capital, Arrington XRP Capital and Translink Capital. The collected funds will create a stable coin that can be used as a payment solution.

Doubts about the reliability stablein Tether (USDT) led to the formation of several new stable currency, for example, projects Stronghold Statis USD and EUR. Terra is trying to find its niche in the ecosystem, focusing on the integration of e-Commerce. One of the creators of project Daniel Shin (Daniel Shin) is the founder of the South Korean e-Commerce platform TMON. The project Terra Alliance has joined fifteen companies with a total annual transaction volume to $ 25 billion and 40 million customers (including Woowa Brothers, Qoo10, Carousell, Pomelo and TIKI). New stablein will be provided by Luna asset whose value is derived from commissions for transactions in the network. “Just as the Moon stabilizes the rotation of the Earth, Luna is the eternal guardian of the stability of Terra” — say representatives of the project.

“I know from experience that fast and secure transactions with smaller commissions may be a factor that will change the rules of the game for multiple platforms of Internet Commerce. We are glad to cooperate with leading partners and look forward to beta testing the payment system Terra in the fourth quarter of this year, says Tires, but our plans go far beyond the limits of Terra positioning as a trusted and secure medium of exchange for e-Commerce. The possibility of applying Terra very large, and we expect that our system will be used in all types of financial products like credit and insurance”.

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