Terra, a project building a payment system on the blockchain, announced today that it has received a strategic investment from HashKey Capital, a leading investor with a large portfolio of fintech and blockchain companies. The investment will help Terra further its goals of expanding its e-commerce and retail alliance across Asia.
HashKey Capital is an affiliate of HashKey Group, a fintech company based in Hong Kong and a strategic partner of Wanxiang Blockchain Labs.
Terra has designed a stablecoin that can be used as a method of payment on its independent blockchain payment solution. It aims to increase adoption through its growing e-commerce alliance, which includes Asia-Pacific giants such as TMON, Baemin, Carousell, Qoo10, and Tiki.
Recently, Terra partnered with a Korean mobile payments app called CHAI, which has integrated with two e-commerce partners from Terra’s Alliance to power online transactions with its blockchain technology. Launched only two months ago, CHAI’s transaction volume is growing rapidly with its user base currently exceeding 380,000.
“Terra’s has captured significant mindshare in Korea through its partnership with payments app CHAI, and we are proud to receive this crucial investment from HashKey Capital as we continue to grow. HashKey Capital has a great presence across Asia, especially in Hong Kong and Mainland China, and we look forward to exploring those regions together. As one of HashKey Capital’s portfolio companies, we are joining the ranks of other prestigious blockchain startups. Not only are we building our credibility in the space, but we are also furthering our goals.”
– Daniel Shin, Co-Founder of Terra
Terra recently announced new e-commerce partners such as Korea’s music-streaming giant Bugs and Sinsang Market, the largest B2B fashion platform in Korea. The Terra team also recently announced investments from LuneX and Ulysses Capital. Terra’s mining token Luna (LUNA) is currently listed on global cryptocurrency exchanges including Bittrex and Bitrue.
“We believe in Terra as one of the most feasible solutions for blockchain-based, global payments. We have decided to invest so that we can grow our portfolio of promising fintech companies in Korea/Asia, as well as diversify it with up-and-coming startups in the blockchain space.”
– Deng Chao from HashKey Capital