Terra Announces New Partnerships at Korea Blockchain Week

Asia Blockchain Review
October 19, 2019
Terra Announces New Partnerships at Korea Blockchain Week

Alternative finance platform Terra has announced that its payment DApp CHAI is set to enter a partnership with major South Korean payment processor BC Card to launch a debit card.

Promoting Wider Blockchain Adoption

Terra is on the brink of gaining a large number of users thanks to its partnership with BC Card. As the platform relies on an algorithmic stablecoin, it can offer secure and fast transactions for merchants at much lower transaction costs of 0.5%, compared to 2-3% normally charged by other payment processors. The company has already partnered with other big companies, which are driving the mass adoption of blockchain technology through its payment process.

Meanwhile, CHAI has established partnerships with 15 local banks in South Korea and has reportedly grown larger than Kakao Pay, another prominent player in the digital payments landscape that is affiliated with the Klaytn blockchain platform through parent company Kakao. 

The new agreement between CHAI and BC Card will see the launch of a new debit card in 2020. According to Terra, the new card will be accepted at over 3 million affiliates of BC Card, and is expected to expand globally.

New Partnerships for Terra

Apart from the CHAI-BC Card partnership, Terra revealed that CHAI has also entered into an agreement with South Korea’s biggest convenience store chain CU to process offline payments.

Meanwhile, South Korea’s leading hospitality app Yanolja will start accepting payments through CHAI, further expanding the DApp’s user base.

Another major announcement has been Terra’s partnership with Shinsegae (SSG) Duty-Free, which will launch a new local app called “CHAI DF” to enable payments on new channels.

Source: https://www.cryptonewsz.com


About Asia Blockchain Review

Asia Blockchain Review is the largest initiative for media and community building in Asia for blockchain technology. It aims to connect all blockchain enthusiasts on a regional scale and facilitate the technological foundation of blockchain through a range of group discussions, technical workshops, conferences, and consulting programs.

Our goal is to cultivate and encourage a collaborative community for our members to gather, share their experiences and endeavors in the blockchain space, and brainstorm the potential uses of blockchain technology.

Follow Asia Blockchain Review on:

    Related Article
    2020: Managing the Expectations of Blockchain Related Hype
    As blockchain technology evolves, the ecosystem for a lot of things is advancing as time goes by. So...

    February 22, 2020

    Is Blockchain the Saviour that Healthcare Needs?
    2019 saw almost USD$4 billion worth of healthcare data breaches, but it's not all doom and gloom, as...

    February 19, 2020

    MESTECC Launches 130 Technology Initiatives for 2020
    In line with the “Own It. Do It. Ace It.” campaign, the Ministry of Energy, Science, Technology, Env...

    February 17, 2020

    Australian Government Unveils National Blockchain Roadmap
    The national blockchain roadmap is all about progressing the country towards a blockchain-empowered ...

    February 17, 2020

    We provide information about Asia Blockchain Review latest activities as well as global blockchain news and research. Subscribe to our Newsletter now or Contact us