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I live in South Korea and like to think that I keep track of the current state of fintech but I have never heard of Terra or any cryptocurrency being widely use
by viceroyalbean 5y ago
I live in South Korea and like to think that I keep track of the current state of fintech but I have never heard of Terra or any cryptocurrency being widely used for payments. Where is it usable?
- OrlandoHakim 5y agohttps://www.terra.money https://www.terra.money - to learn about Terra, founded by Do Kwon a Korean Billionaire entrepreneur They offer many currrency mirroring stablecoins including Korean Won in addition to the US dollar-pegged coins. https://chai.finance/ https://chai.finance/ Chai is the Payments solution. I’m told they have 2 million users in Korea but you may know better. It can be used to pay in MacDonalds and Starbucks to name a couple examples.
- viceroyalbean 5y agoAh, I see. I haven't used Chai but from what I can tell it's a service that lets you make payments through multiple methods (e.g credit card, bank transfer). I don't think they've published statistics but I'm guessing most of their payments don't go through crypto.
- OrlandoHakim 5y agoProbably true that most payments still go through traditional payment rails. Crypto is still an emerging technology and most people don’t own crypto. I still find it interesting to know that one can pay for a Big Mac or a Latte using stablecoins as an option in Korea.