Terra wants to create Project Terra, which is said to be the next generation of the digital money which is getting widely popular, and has actually raised as many as $32 million so as to fuel this vision of the company to make the project that is basically based on the blockchain as well as the cryptocurrency technology. The company is actually a Singapore based startup and has the legal name as Terraform Labs. The amount is raised by the investors which include many big names in the field.
Some of the investors that have helped to raise such a big amount for the project include Translink Capital, FBG Capital, Polychain Capital, Arrington XRP, among many other investors. Out of the six largest exchanges in the crypto world, nearly four have already used their investment arms to invest in the same and these include Okex, Huobi Capital, Binance Labs, and Dunamu & Partners. The company Terra has said that the initial seed as far as the investment is concerned will actually be used by the company in order to build a type of modern system, when it comes to the financial aspect, on the blockchain.
The company is basically planning to tap the transaction volumes of the ecommerce platforms which are ever increasing. And the model which the company has been using is actually a proven model as it has been used for the platforms used to make payments such as PayPal as well as AliPay. The Terra Alliance is huge, with nearly $25 billion in the ov3erall transaction volume of the company and also has more than 40 million customers all over the world. Until now, nearly 15 of the major companies have already joined this alliance of the company and these companies include some big names such as TMON, Carousell, Pomelo, and others.