Terra is developing a price-stable digital currency to power a next-generation payment network built on blockchain. The company is focused on lowering transaction costs for merchants and consumers through partnerships with an alliance of global eCommerce platforms. Terra is led by Daniel Shin and is based in Singapore and Korea. Its product development and public launch were slated for Q2 2019. Terra has formed a technical partnership with Kakao’s Klaytn blockchain to explore uses for its stablecoin and payment system. The company has received strategic investments to support product development, though the deal amounts were not disclosed. Terra develops a price-stable digital currency (stablecoin) that will power a next-generation blockchain payment network for merchants and consumers. The company plans to integrate its payment system with a growing Terra Alliance of eCommerce partners to drive rapid, real-world adoption. Terra intends to evolve the protocol into an open platform where financial dApps (loans, insurance, etc.) can be built on top of its price stability. The seed capital will be used to build the modern financial system on the blockchain and to beta-test the payment solution in Q4. Terra cites immediate go-to-market advantages through partnerships with large eCommerce platforms, including co-founder Daniel Shin’s connection to TMON. The company has offices in Singapore and Korea.

Total raised

$32M

Funding rounds

2

Latest round

Seed

Latest activity

Aug 2018