A new stable coin (cryptocurrency with a stable price) Terra has been developed for the Asian market

Daniel Shin, the founder of the e-commerce South Korean giant TMON, in cooperation with the e-commerce companies Woowa Brothers, Qoo10, Carousell, Pomelo and TIKI have joined the Terra Alliance.

The companies plan to integrate the stable coin (cryptocurrency with a stable price) Terra in their business. It is interesting that the project has already been funded by the cryptocurrency exchange Binance. The funding round was attended by such companies as Polychain Capital, FBG Capital, Hashed, 1kx, Kenetic Capital and Arrington XRP Capital. In total, the project collected $ 32 million.

According to the available information about the Terra project is planned to use two cryptocurrencies: Luna and Terra. The Luna cryptocurrency will serve as security against fiat currencies, while the Terra currency will be used in daily transactions. The small transaction commission fees from the Terra network will be channeled to the owners of Luna.