Terra
Co-Founder: Daniel Shin
Terra was founded in January, and in August closed a $32 million seed funding round led by the capital investment arms of four of the six largest global cryptocurrency exchanges to kickstart the company's vision of creating the next generation of digital money.
The Singapore-based company aims to overcome key barriers to the mass adoption of digital currencies by creating a price-stable cryptocurrency that can be readily used on Terra's blockchain payment tool. Terra said its go-to-market strategy leverages the large and ever-growing transaction volumes of eCommerce platforms.
Terra's protocol ensures price-stability by algorithmically expanding and contracting supply, while the company's Stability Reserve makes a decentralized guarantee of solvency, protecting it from the speculative and regulatory risks that other currencies are exposed to. The company hopes to make paying for groceries with cryptocurrency a reality with low transaction fees and a seamless experience.
