Terra announced Friday its blockchain-based next-generation payment platform. Its main net called Columbus will open from April 1.
The main net would process e-commerce business. An alliance of Asian e-commerce companies, including Tmon (Korea), Carousell (Singapore), Qoo10 (Singapore) and Tiki (Vietnam), will use the platform. These 15 Terra alliance team handles $25 billion in yearly transactions with 45 million users.
Terra’s main net will support these multiple companies in multiple Asian countries. The main net also supports multiple stablecoins, each of which is pegged to fiat currencies. These multiple currencies include South Korean won, US dollar, Japanese yen, Singapore dollar, and the IMF’s special drawing rights.
Terra said its main net provides cheaper and quicker services for e-commerce users. Terra said it charges a small transaction fee of at most one percent. It has upgraded functions to quicken the processing.
