Blockchain provider and stable coin issuer platform focusing on South Korea and based out of Singapore, Terra has secured a strategic investment recently. The firm has received the funds from an investment made by HashKey Capital which is a blockchain investor affliated to HashKey Group, a fintech company.
On the basis of fundamental research and technical analysis, the blockchain investor HashKey Capital operates to invest primarily in blockchain assets traded on exchange and id partner to Wanxiang Blockchain Labs.
Terra is viewed as one of the most feasible solutions for blockchain-based, global payments by Deng Chao, the CEO of HashKey Capital as he discussed about their investment in the company. The idea of growing their platform with adding to its portfolio, fintech companies that show great promise in Asia and Korea itself has driven their decision to invest in terra alongside furthering diversification with up-and-coming startups in the blockchain space.
The ecommerce and retail alliance of Terra across Asia will get a boost with the newly secured capital and partnership, however the amount of investment has not been revealed as yet.
The co- founder of Terra, Daniel Shin said that the significant presence of HashKey Capital across Asia particularly in mainland China and even Hong Kong will give Terra the opportunity to explore these regions.
The blockchain-focused investment arm of Golden Gate Ventures, LuneX Ventures has also invested in Terra in May, before this recent investment by HashKey Capital for an unknown amount. Apart from LuneX Ventures, the investment arm of South Korean internet giant Kakao, Kakao Ventures also funded the startup earlier in 2019.Apart from aiming to help grow the real GDP of the blockchain economy, Terra is targets powering the next- generation payment network being a price- stable crytocurrency itself.
Nancy Lojas has a Pharmaceutical background. She is pursuing a Masters Degree from the University of Toronto and loves to write about research, discoveries & trends in the Healthcare sector.