The Terra Stablecoin Is Partnering With a South Korean Fashion Market

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Singapore-incorporated, South Korea-focused stablecoin creator Terra has signed a major Korean B2B platform to its alliance of internet marketplaces.According to a report on Econonews, a local financial website, Terra has agreed to work with Sinsang Market, a company that links vendors at Seoul’s Dongdaemun fashion market with customers in Korea and elsewhere in the world.The two will develop a payments system to offer end-to-end capabilities for wholesale transactions, including payments, settlement and delivery. It will utilize CHAI, a South Korean mobile payments platform powered by Terra’s blockchain technology.Dongdaemun fashion market is one of the largest fashion wholesale markets globally, with an estimated $12 billion of turnover but at present it remains fragmented and relative poorly developed in terms of logistics and payment services. The hope is to connect the many small enterprises operating there more efficiently with their target markets.According to other local press reports, Sinsang Market works with 18,000…

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