Terra Alliance has closed a $32 million funding round to support its stablecoin project. The venture has won the backing of four of the world’s largest cryptocurrency exchanges — Binance, OKEx, Huobi and Upbit’s parent company Dunamu.
А list of leading global blockchain-focused funds, including Polychain Capital, FBG Capital, Hashed, 1kx, Kenetic Capital, and Arrington XRP Capital have also joined as investors alongside major mainstream funds like TransLink Capital.
Terra Alliance, led by South Korean e-commerce marketplace Ticket Monster (TMON), said in a press release on Wednesday it is seeking to create “a stable digital currency that is immune to the price volatility that comes with speculation and manipulation”. The cryptocurrency will compliment the group’s existing token, Luna, which acts as collateral on its blockchain platform.
“From experience, I know that faster, more secure transactions at a fraction of today’s fees could be a game-changer for many eCommerce platforms,” Terra co-fou...
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