Novogratz's Galaxy Digital bets on South Korean crypto fintech firm

Mike Novogratz's Galaxy Digital ([[BRPHF]] -1.7%) Trading HK Ltd. recently co-led a $25M funding round for Singapore-based Terraform Labs, which uses crypto-related technology to speed payments to South Korean merchants and users.Other investors in the round include Pantera Capital and Coinbase (COINB) Ventures.The investment puts a spotlight on the opportunity to make the payments process more efficient and profitable. The technology's ability to accelerate payment settlement from days to ~6 seconds has attracted more than 2.2M total users executing almost 90K transactions a day.Terraform's payment rails run on top of a digital ledger and a related wallet. It also uses stablecoins, called Luna, in the process. Meanwhile, consumers often aren't aware of the blockchain and stablecoin use when they make purchases at local convenience stores or online.While many crypto projects have received funding in recent years but haven't yet developed products, Terraform has cultivated a product and a following."What’s great