Blockchain project Terra said Thursday it attracted investment from Singapore-based venture capital LuneX Ventures.

Terra said it would run its blockchain-based settlement system before June and set the system in operation in Southeast Asian countries. It would also open its office in Singapore this year.

Kenrick Drijkonigen of LuneX Ventures said South Korea has a well-developed cryptocurrency market. He said Korea retains talented blockchain developers and entrepreneurs. He also said LuneX would help Terra expand its payment settlement system in the Southeast Asian market.