Terra is a Singapore-based blockchain payments startup. Terra secures strategic investment from Hong Kong blockchain investor, HashKey Capital. While, HasKey Capital is an affiliate of HasKey Group, a fin-tech company.
The two firms will work together to bring blockchain-based payment solutions to e-commerce and retail businesses throughout Asia. That plan is the art of the deal. Terra co-founder, Daniel Shin, mentions that HashKey capital will be a beneficial partner for the startup. It has had a great presence across Asia. Besides, the firm owns great presence especially in Hong Kong and mainland China. Thus, Terra aims to explore those regions with this partnership.
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Terra
Terra has built a price-stable cryptocurrency. Terra’s platform can be used as a method of payment on its blockchain-based payment solution. Moreover, it aims to become the first widely used cryptocurrency.
Terra Alliance has a collective annual transaction volume of $25 billion. Besides, the startup has also gained more than 45 million active users.
To reach that goal, it pushes adoption through partnerships with e-commerce firms. Terra e-commerce partner range from South Korea’s Ticket Monster (TMON), Singapore’s Carousell, and Vietnam’s Tiki.
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Besides, The startup mentioned that is currently partnered with Korean mobile payments app Chai, through TMON. With that partnership, it enables online transactions with blockchain technology.
Moreover, it has also partnered with two other Korean firms. They are music-streaming giant Bugs and business-to-business fashion platform Sinsang Market.
Terra has also raised another undisclosed sum from LuneX Ventures, earlier in May. It is a blockchain-focused investment branch of Golden Gate Ventures.
Earlier this year, Terra has also received funding from Kakao Ventures. It is an investment arm of South Korea internet giant Kakao. It is one of Terra’s most strategic investment. Through this investment, Terra can access Kakao 50 million active users.
