The newest stable coin project has raised $32 million from crypto exchange Binance and other notable investors.

Good evening. I'm Stan Higgins, and this is late confirmation from CoinDesk, bringing you the top stories from August 29th.

When Tron bought BitTorrent, it also bought a piece of something else, and Hong Kong is promising to ease entry for blockchain experts.

And we'll finish up the podcast today by speaking with Coin desk reporter Anabitikova

on how the Russian capital of Moscow is using blockchain to improve public services.

But first, a word from our sponsor, Saeed Business School, University of Oxford.

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blockchain.com.

Korean entrepreneur Denial Shin is a founder of Tiemann, a billion dollar online commerce

website in Korea.

Now he's building a new stable coin and aims to facilitate transactions for a network of

online stores.

The project has raised $32 million from a group of

investors, including Binance, Polychain Capital, and Arrington XRP, among others. In fact, there will be

two tokens, the Terra and Luna. Investors bought Luda tokens, which function as collateral on the network.

Their sale will supply an initial reserve that will help stabilize the price against fiat markets.

Also, holders of Luna will receive small fees from every transaction.

The other token, the Terra, will be used as the day-to-day payment method for consumers.

Unlike the Luna, which will have a limited supply, new

terra tokens will be created based on demand.

After the acquisition of BitTorrent, Tron has also acquired a share in the Chia network.

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