Harmony, a cross-chain and open blockchain platform built for assets, collectibles, identity, governance has announced a partnership with a leading ecosystem focused on programmable money and other financial primitives.
The company considers the integration as a match forward towards its cross-chain and interoperability vision with the aim to gain mass adoption.
The collaboration will see the partnering companies hosting each other’s products for both communities to benefit. It was noted that Terra’s product is now available on Harmony.
To start with is the integration of Harmony to the Terra Shuttle Bridge. Thus, Terra’s stablecoin, UST, will be deployed on Harmony and used on applications in the Harmony Ecosystem.
By means of the partnership, the companies seek to raise projects that will see users utilizing UST on Harmony. Also, promising new and upgraded defi innovations on the platform beneficial to users via UST on Harmony.
While unveiling the full stack integration and ideas behind it, Stephen Tse, Founder of Harmony expressed delights on the big move saying;
“We are excited to work with Terra to continue our journey of building a multi-chain future. Terra and Harmony are bridging to build a vibrant cross-chain finance ecosystem with UST stablecoin, ONEAnchor fixed rate lending, and our upcoming $1M Hackathon. We look forward to the promising potential of this partnership.”
In full support and agreement to the collaboration, Co-founder and CEO at Terra, Do Kwon, revealed his anticipations regarding the positive outcome the partnership would birth.
“Terra is excited to expand our growing portfolio of DeFi products to multiple chains and work with Harmony to bring UST and Anchor to another growing ecosystem. We look forward to seeing new developer innovations for multi-chain DeFi.” Do Kwon said.