25 December 2019 14:27, UTC

Denis Goncharenko

Korean stablecoin Terra showed a sharp spike in volume, an increase of 280%. The popularity of the cryptocurrency, acting as a payment system, may indicate growing recognition.

Terra is a relatively new project in the industry, its white paper was released in April this year. Nevertheless, the team achieved success in promotion: a few weeks ago it announced a partnership with CU, one of the largest Korean retail networks with 13,500 convenience stores.

For the most part, cryptocurrencies as a means of payment have not yet been able to attract the interest of the general public. However, the Terra stable coin plans to change that. The co-founder of the project Do KWON voiced one of the main problems for interacting with traders: enterprises with low margins postpone the adoption of cryptocurrencies as payment due to its high volatility.

The Terra and CU deal provides a fixed and secure payment system. CU stores will offer cryptocurrency payments via the Terra Chai app by the end of the year.

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