HashKey Capital, a venture capital firm based in Hong Kong, has recently invested in another Asian company called Terra. Terra is a stablecoin provider which also manages a payment network. Instead of using the investment to buy equity at the other company, HashKey Capital decided to buy tokens instead.
The venture capital company bought several Luna tokens, which are mining tokens created by Terra. They are currently traded on two platforms, Bittrex and Bitrue. The amount of the investment was not publicly disclosed at the time of this report.
Terra, which was created last year, is planning to become a sort of Asian PayPal. The company is based in Singapore and it is currently planning to expand its services in the region.
One of the largest local markets, China, is being targeted by the company at the moment. According to one of the co-founders of the company, Daniel Shin, the partnership with HashKey Capital comes in a good time. The venture capital firm has important links to Hong Kong and China and this could help a lot in the planned expansion.
Both Terra and HashKey Capital are pretty active this year. Terra has received investments from several other companies such as Arrington XRP Capital, Kakao Capital, LuneX Ventures and others.
HashKey, on the other hand, is investing in companies. It has really invested in the Nervos Network, Blockfolio, AlphaWallet, Kava Labs and more. HashKey has also started a partnership with Wanxiang Blockchain Labs, an Asian insurance company.