{"id":35398,"date":"2021-01-26T21:49:24","date_gmt":"2021-01-26T19:49:24","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=35398"},"modified":"2025-08-29T01:08:54","modified_gmt":"2025-08-28T22:08:54","slug":"galaxy-digital-and-coinbase-invest-25-million-in-terra-stablecoin-ecosystem","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/galaxy-digital-and-coinbase-invest-25-million-in-terra-stablecoin-ecosystem\/","title":{"rendered":"Galaxy Digital and Coinbase Invest $25 Million in Terra Stablecoin Ecosystem"},"content":{"rendered":"<p>Terraform Labs, the developer of the Terra stablecoin, has raised $25 million to expand the asset&#8217;s use in the DeFi sector.<!--more--><\/p>\n<p>\\n<\/p>\n<blockquote class=\\\"twitter-tweet\\\"><p>\\n<\/p>\n<p dir=\\\"ltr\\\" lang=\\\"en\\\">We\u2019re thrilled to welcome investors old and new to the Terra vision. We look forward to what the future holds, and invite the crypto community to join in building on the Terra blockchain to make savings, payments, and investing simpler &#038; more accessible.<a href=\\\"https:\/\/t.co\/KoqATixfwz\\\">https:\/\/t.co\/KoqATixfwz<\/a><\/p>\n<p>\\n<\/p>\n<p>\u2014 Terra \ud83c\udf0d powered by Luna \ud83c\udf15 (@terra_money) <a href=\\\"https:\/\/twitter.com\/terra_money\/status\/1354132182135005184?ref_src=twsrc%5Etfw\\\">January 26, 2021<\/a><\/p>\n<\/blockquote>\n<p>\\n<\/p>\n<p><script async src=\\\"https:\/\/platform.twitter.com\/widgets.js\\\" charset=\\\"utf-8\\\"><\/script><\/p>\n<p>\\n<\/p>\n<p>Investors in the round included Galaxy Digital, Coinbase Ventures, Pantera Capital, and others.<\/p>\n<p>\\n<\/p>\n<blockquote>\n<p>\\&#8221;The investments will be used to build protocols. Mirror \u2014 for synthetic stocks and Anchor \u2014 for savings, and other DeFi applications. The latter will become additional elements of the Terra algorithmic-stablecoin ecosystem,\\&#8221; said Do Kwon, the company&#8217;s cofounder.<\/p>\n<\/blockquote>\n<p>\\n<\/p>\n<p>The startup also plans to broaden interoperability with other blockchains.<\/p>\n<p>\\n<\/p>\n<p>Terraform Labs is known for issuing stablecoins pegged to various fiat currencies for e-commerce. The startup is also behind Chai, a popular payments solution in Asia.<\/p>\n<p>\\n<\/p>\n<blockquote>\n<p>\\&#8221;Terra has gained popularity as a means of payment among 2 million Koreans and is actively growing in the DeFi sector,\\&#8221; commented Simon Kim, CEO of Hashed.<\/p>\n<\/blockquote>\n<p>\\n<\/p>\n<p>In 2018, with backing from Binance and Polychain, Terra launched TerraKRW pegged to the Korean won. To support it, the stablecoin relies on the issuance and burning of the LUNA token, which mitigates volatility.<\/p>\n<p>\\n<\/p>\n<p>Terra is issued on the Tendermint protocol, forming the Cosmos ecosystem. This sets it apart from most other DeFi stablecoins, which are typically issued on Ethereum.<\/p>\n<p>\\n<\/p>\n<p>According to Terraform, TerraKRW&#8217;s annual transaction volume reached the equivalent of $1.2 billion. The company earned $13 million in fees.<\/p>\n<p>\\n<\/p>\n<p>Earlier, the Japanese internet company GMO received a license from the New York State Department of Financial Services to issue <a href=\"https:\/\/u1f987.com\/en\/news\/gmo-internet-wins-new-york-license-to-issue-stablecoins\">stablecoins pegged to the Japanese yen and the US dollar<\/a>.<\/p>\n<p>\\n<\/p>\n<p>Follow ForkLog news on Telegram: <a href=\\\"https:\/\/t.me\/forkloglive\\\" target=\\\"_blank\\\" rel=\\\"nofollow noopener noreferrer\\\">ForkLog FEED<\/a> \u2014 the full stream of news, <a href=\\\"https:\/\/telegram.me\/forklog\\\" target=\\\"_blank\\\" rel=\\\"nofollow noopener noreferrer\\\">ForkLog<\/a> \u2014 the most important news and polls.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Terraform Labs, the developer of the Terra stablecoin, raised $25 million to expand the asset&#8217;s use in the DeFi sector.<\/p>\n","protected":false},"author":1,"featured_media":35399,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[138,1093,770,807,852,1133],"class_list":["post-35398","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-coinbase","tag-defi","tag-galaxy-digital","tag-stablecoins","tag-terra","tag-venture-investments"],"aioseo_notices":[],"amp_enabled":true,"views":"244","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/35398","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=35398"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/35398\/revisions"}],"predecessor-version":[{"id":35400,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/35398\/revisions\/35400"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/35399"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=35398"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=35398"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=35398"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}