South Korean business-to-business fashion platform Sinsang Market has joined the Terra Alliance ecosystem, a stablecoin-focused association of large e-commerce companies.
As South Korean economics-oriented newspaper EconoNews reported on Aug. 3, the partnership between Sinsang and Terra aims to create a payment system that deploys Korean mobile payment service CHAI. CHAI utilizes Terra’s blockchain technology to ensure fraud-resistant transactions and settlements with merchants in fiat currency.