Blockchain Payments Startup Terra Expands to Singapore

Roughly seven months after it scored a strategic investment from LuneX Ventures, blockchain payments network Terra is setting its sights on Southeast Asia.

According to The Business Times, Terra, the Seoul-based startup that powers CHAI, the South Korean payments app, has expanded to Singapore.

From the Lion City, the company plans to expand to other markets, and it also hired someone to do the job:

Rahul Abrol, Uber’s former Asia-Pacific head of strategy, has also joined Terra at the new Singapore office as head of international business and strategy.

He will helm the regional team and expansion efforts, the Singapore-incorporated startup announced on Thursday.

Terra will officially launch its stablecoin-fueled payment app in Singapore in 2020. It has already set up shop in Mongolia, and plans to expand to at least five other countries, including Thailand and Taiwan.

Photo: Jpatokal