Swiss asset manager GAM Holding is negotiating with Terra developer Terraform Labs to potentially support its UST Stablecoin.
GAM said it could possibly invest between $2-3 billion to burn excess supply of UST, as the token gets dumped.
GAM intends to help Terra re-establish the UST peg back to $1.
The move comes amid reports that Terra was courting private capital help for supporting the UST peg. The blockchain reportedly sought for over $1.5 billion.
