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

  • 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

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.

About the author

Yuri is a 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. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today, can be contacted at yuri.molchan@u.today.

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