# Stablecoin project Terra receives funding from HashKey Capital

By Shampa Mani

Canonical URL: https://www.tokenpost.com/news/business/3154
Published: 2019-08-23T11:35:02.000Z
Updated: 2019-08-23T11:35:02.000Z
Section: Business

> Blockchain startup Terra has received an investment from HashKey Capital, a Hong Kong blockchain investor and an affiliate of fintech company HashKey Group, Tech In Asia reported. The details of the investment have no…

Blockchain startup [Terra](<https://terra.money/>) has received an investment from HashKey Capital, a Hong Kong blockchain investor and an affiliate of fintech company HashKey Group, [Tech In Asia](<https://www.techinasia.com/blockchain-firm-terra-secures-strategic-investment-hashkey-capital>) reported. The details of the investment have not been disclosed.

Terra is a “price-stable cryptocurrency” aimed at mass adoption. The project is backed by a roster of prominent investors including Binance Labs, OKEx, Huobi Capital, Dunamu & Partners, Arrington XRP Capital, as well as [Kakao Ventures and Kakao Investment](<https://tokenpost.com/South-Koreas-Kakao-Ventures-invests-in-stablecoin-project-Terra-1381>), among others.

As part of the investment deal, Terra and HashKey Capital will collaborate to introduce blockchain-based payment solutions in e-commerce and retail businesses across Asia.

Please welcome [@HashKeyGroup](<https://twitter.com/HashKeyGroup?ref_src=twsrc%5Etfw>) to the [#Terra](<https://twitter.com/hashtag/Terra?src=hash&ref_src=twsrc%5Etfw>) family! As an investor with strong presence in Hong Kong and China, especially as an affiliate of China’s prominent [#Wanxiang](<https://twitter.com/hashtag/Wanxiang?src=hash&ref_src=twsrc%5Etfw>) [#Blockchain](<https://twitter.com/hashtag/Blockchain?src=hash&ref_src=twsrc%5Etfw>) Labs, HashKey will help us grow our [#ecommerce](<https://twitter.com/hashtag/ecommerce?src=hash&ref_src=twsrc%5Etfw>) alliance across Asia. Already feeling stronger! [https://t.co/cVQ8vwN53r](<https://t.co/cVQ8vwN53r>)

— Terra (@terra_money) [August 23, 2019](<https://twitter.com/terra_money/status/1164835018646016000?ref_src=twsrc%5Etfw>)

“HashKey Capital has a great presence across Asia, especially in Hong Kong and mainland China, and we look forward to exploring those regions together,” said Terra co-founder Daniel Shin.

Terra aims to boost the adoption of its stablecoin and its blockchain-based payment solution. It is spearheading the Terra Alliance ecosystem – a stablecoin-focused association of large e-commerce companies.

In an [online post](<https://medium.com/terra-money/state-of-the-terra-alliance-d7f3ff8f6411>) dated February 27, Terra said that it had onboarded multiple strategic e-commerce partners in Korea and the Southeast Asian region with a combined Gross Merchandise Value (GMV) of $25 billion and a customer base of 45 million users. This includes TMON, Qoo10, Yanolja, Megabox, Musinsa, and many others.

South Korean business-to-business fashion platform [Sinsang Market](<https://www.tokenpost.com/South-Korean-B2B-fashion-platform-Singang-Market-joins-Terra-Stablecoin-Alliance-2922>) and music streaming platform [Bugs](<https://www.tokenpost.com/Terra-Stablecoin-Alliance-signs-South-Korean-music-streaming-platform-Bugs-3042>) joined the alliance this month.

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## Links in this article

- [Terra](https://terra.money/)
- [Tech In Asia](https://www.techinasia.com/blockchain-firm-terra-secures-strategic-investment-hashkey-capital)
- [Kakao Ventures and Kakao Investment](https://tokenpost.com/South-Koreas-Kakao-Ventures-invests-in-stablecoin-project-Terra-1381)
- [@HashKeyGroup](https://twitter.com/HashKeyGroup?ref_src=twsrc%5Etfw)
- [#Terra](https://twitter.com/hashtag/Terra?src=hash&ref_src=twsrc%5Etfw)
- [#Wanxiang](https://twitter.com/hashtag/Wanxiang?src=hash&ref_src=twsrc%5Etfw)
- [#Blockchain](https://twitter.com/hashtag/Blockchain?src=hash&ref_src=twsrc%5Etfw)
- [#ecommerce](https://twitter.com/hashtag/ecommerce?src=hash&ref_src=twsrc%5Etfw)
- [https://t.co/cVQ8vwN53r](https://t.co/cVQ8vwN53r)
- [August 23, 2019](https://twitter.com/terra_money/status/1164835018646016000?ref_src=twsrc%5Etfw)
- [online post](https://medium.com/terra-money/state-of-the-terra-alliance-d7f3ff8f6411)
- [Sinsang Market](https://www.tokenpost.com/South-Korean-B2B-fashion-platform-Singang-Market-joins-Terra-Stablecoin-Alliance-2922)
- [Bugs](https://www.tokenpost.com/Terra-Stablecoin-Alliance-signs-South-Korean-music-streaming-platform-Bugs-3042)
- [TokenPost](https://www.tokenpost.com)