Binance supports Terra, stablecoin for e-commerce


On Tuesday morning, the founding team behind the TMON startup revealed that it would have raised more than 32 million dollars to develop a stablecoin called Terra, which in addition to providing the already known advantages of the stablecoins, would come with a user base already established.

Created by the entrepreneur Danial Shin, founder of TMON; one of the most important e-commerce sites in South Korea, the Terra project is launching with several important alliances with companies with more than 40 million consumers. These partners, who will form the Terra Aliance - a group of e-commerce websites interested in incorporating the sablecoin into their businesses - include Qoo10, Caroussell, Woowa Brothers, TIKI and Pomelo.

Thus, according to a project spokesperson, these companies together would generate more than $ 2.5 billion in sales. "We have joined these Asian sales platforms that are not called Alibaba or Amazon to bring Terra into the hands of many people," said Shin.

It is not a surprise that this consortium includes several cryptocurrency investors, such as Arrington XRP, Hashed, 1kx, FBG Capital, Polychain Capital, Kenetic Capital and Binance, the most important Exchange in the world.

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