Checking In With Terra, the Korean Stablecoin Firm Bringing Online Shoppers to Crypto

You’re going to have to wait a little longer for the liquidity mining–powered savings account from Korean stablecoin maker Terra. The firm’s Chai payments app, in which the Terra stablecoin is prominently featured, now has over 2 million accounts.

Terra should soon have more visibility in the Western market as it bridges to Ethereum, offering a wrapped version of its stablecoin on the leading decentralized finance (DeFi) blockchain. Terra has the additional advantage of offering versions that mirror several other fiat currencies beyond U.S. dollars, with Terra-based stablecoins for Korea, the Philippines and Mongolia.

Timeline of Ethereum, Terra, Terra-luna