KuCoin, a leading cryptocurrency exchange has added support for Terra (SDT) stablecoin and Luna (LUNA) on its bitcoin (BTC) and Tether (USDT) markets.
Terra, a blockchain project focused on building the next generation payment system, has announced that its stablecoin, Terra SDT (SDT) and mining token Luna (LUNA) is now live on KuCoin, with several trading pairs including LUNA/BTC, LUNA/USDT, and SDT/USDT.
The Terra payments network is powered by its native altcoins, Terra SDT and Luna. Terra SDT is backed by both the IMF’s SDR and Luna mining token which derives its value from transaction fees on Terra. Terra SDT is the primary unit of account in the Terra ecosystem.
Terra is aimed at promoting blockchain-based payments by incentivizing consumers and merchants alike. Terra eliminates the middlemen and uses revenue from the growth of its stablecoin economy to offer 5-10 percent discount to shoppers.
Terra has forged alliances with several highly reputed entities including Asia-Pacific giants like TMON, Woowa, Carousell, and Tiki, in a bid to promote broader adoption of its stablecoin.
That’s not all, Terra has also joined forces with Korea’s music-streaming firm, Bugs and Sinsang Market, the region’s largest B2B fashion platform.
Terra has also attracted investments from HashKey Capital, Singapore’s LuneX, and U.S. hedge fundUlysses Capital.
Terra’s Luna token is listed on top exchanges like Bittrex and Bitrue.
“As the people’s exchange, KuCoin is committed to empowering promising blockchain projects and providing a wide range of digital assets to crypto investors. The next-generation payment network created by Terra has the potential to grow the blockchain economy. We are happy to see this great project join our trading platform and we really appreciate their contribution to driving the mass adoption of cryptos.”
“Since launching in June, Terra’s transaction volume has been growing at a rapid pace, with users already exceeding 400,000. We are excited that a global exchange like KuCoin is listing Terra and Luna at a time of unprecedented growth, and we look forward to continue growing Terra’s economy as more e-commerce partners offer Terra as a payment option,” declared Daniel Shin, co-founder of Terra.
Terra is aimed at creating a price-stable cryptocurrency that will revolutionize the payments ecosystem. Terra has partnered with a vast array of platforms to offer users cost-efficient transactions.
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