Terra and Harmony announce DeFi partnership focused on UST stablecoin integratio

Terra is excited to expand our growing portfolio of DeFi products to multiple chains and working with Harmony to bring UST and Anchor to another growing ecosystem,” said Do Kwon, co-founder and CEO of Terra. Terra, an algorithmic stablecoin platform for savings, investments and payments, is joining forces with the Harmony blockchain to pursue new DeFi initiatives focused on programmable money and other so-called financial primitives. Under the new partnership, which is described as a “deep integration” initiative, Terra will integrate Harmony on its Shuttle Bridge platform, a web front-end that allows users to send Terra’s UST stablecoin across supported blockchains. “This paves the way for UST to migrate to Harmony and to be used on applications in the Harmony Ecosystem,” Peter Abilla, Harmony’s VP of marketing, said in a Tuesday announcement.