Blockchains | Cryptocurrencies | Web3 Resource logo Blockchains | Cryptocurrencies | Web3 Resource logo
Seeking Alpha 2021-01-26 18:46:36

Novogratz's Galaxy Digital bets on South Korean crypto fintech firm

Mike Novogratz's Galaxy Digital ([[BRPHF]] -1.7%) Trading HK Ltd. recently co-led a $25M funding round for Singapore-based Terraform Labs, which uses crypto-related technology to speed payments to South Korean merchants and users.Other investors in the round include Pantera Capital and Coinbase (COINB) Ventures.The investment puts a spotlight on the opportunity to make the payments process more efficient and profitable. The technology's ability to accelerate payment settlement from days to ~6 seconds has attracted more than 2.2M total users executing almost 90K transactions a day.Terraform's payment rails run on top of a digital ledger and a related wallet. It also uses stablecoins, called Luna, in the process. Meanwhile, consumers often aren't aware of the blockchain and stablecoin use when they make purchases at local convenience stores or online.While many crypto projects have received funding in recent years but haven't yet developed products, Terraform has cultivated a product and a following."What’s great

Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer