Blockchain Investor HashKey Capital Invests In Crypto Stablecoin Terra

Investing, News | August 26, 2019 By:

Blockchain project Terra has received an undisclosed amount of funding from Hong Kong-based blockchain investor HashKey Capital.

Terra is a blockchain protocol of money that ensures price-stability by algorithmically expanding and contracting supply. The company has developed a price-stable digital currency that is designed for mass adoption. To date, the Terra Alliance has a collective annual transaction volume of $25 billion and 45 million users, including Asia-Pacific giants such as TMON, Baemin, Carousell, Qoo10, and Tiki.

As part of the deal, Terra and HashKey Capital will work together to bring blockchain-based payment solutions to e-commerce and retail businesses across Asia.

“HashKey Capital has a great presence across Asia, especially in Hong Kong and mainland China, and we look forward to exploring those regions together,” said Terra co-founder Daniel Shin.

The news about the HashKey Capital investment came after Terra announced that it partnered with Korean mobile payments app Chai to enable blockchain transactions. The firm has also partnered with two other Korean firms, music-streaming giant Bugs and business-to-business fashion platform Sinsang Market.