Binance Among Investors to Raise $32 Mln Funding For Making Stablecoin

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Yuri Molchan
Tokens designed to track the rate of fiat currencies or other assets, which companies have attempted to make in the past, Terra already possesses an active user-base
Binance Among Investors to Raise $32 Mln Funding For Making Stablecoin
Cover image via U.Today

Unlike stablecoins, tokens designed to track the rate of fiat currencies or other assets, which companies have attempted to make in the past, Terra already possesses an active user-base. The man who created it is the CEO of the unicorn startup TMON, one of the high-end online stores in South Korea.

So now Terra has partners that bring along about 40 million clients. One of these partners and investors is the Binance trading platform. Other investors are Polychain Capital, FBG Capital, etc.

The stablecoin is planned to be utilized as a stable digital payment system.

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About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at yuri.molchan@u.today.