Terra, which is a project that focuses on building an advanced payments system, announced today, that they will be collaborating with the world’s first DAG-based smart contract platform, Fantom, which facilitates real-time crypto payments, which accelerate the adoption of its stablecoin.
This collaboration between Terra and its alliance of eCommerce partners and the Fantom Enterprise Alliance will be conducted with the aim of bringing the blockchain based payment systems to online as well as offline retailers, across various industries. They will also be addressing the issues that might pose challenges to crypto adoption by enterprises by releasing terra’s SDR pegged stablecoin on Fantom’s blockchain platform, Opera.
The co-founder of Terra, Daniel Shin said,
“We believe that wide adoption is key to creating a successful stablecoin. Ultimately, trust in Terra will come from the ability to easilty use Terra to purchase goods and services we value in everyday life. Terra has worked tirelessly to develop a stablecoin suitable for mainstream adoption and we are excited to partner with Fantom and its Enterprise Alliance to provide a blockchain payment solution to offline retailers and consumers across all industries.”
When asked to comment on the development regarding the collaboration, The CEO od Fantom, Byung Ik Ahn said,
“Since day one, Fantom has been dedicated to its vision of creating a decetralized world driven by the mainstream adoption of cryptocurrencies and emerging technologies. We share a common vision with Terra and are excited to find ways both companies can collaborate in the online and offline payments market. Terra is a leading project backed by industry giants, and together, we will reform the payments industry.”
This partnership will enable Terra to expand the use cases of its stablecoin and will also allow Fantom to successfully provide their partnership enterprises, developers and dApp consumers with a reliable method of payment.