Venture capital giant Andreessen Horowitz (a16z) led a $12.90 million round to support fintech startup ZAR in promoting a dollar-backed stablecoin in Pakistan. Dragonfly Capital, VanEck Ventures, Coinbase Ventures and Endeavor Catalyst participated in the round.
ZAR innovatively distributes stablecoins through local convenience stores, phone booths, and money transfer agent outlets, allowing users to exchange cash for stablecoins stored in mobile wallets and connected to a Visa card that can be used globally by simply scanning a QR code at a participating store. The model is specifically aimed at 100 million of unregistered adults in Pakistan, without the need for users to understand blockchain or crypto technology.
Fintech startup ZAR raises $12.90 million, led by a16z
2025-10-28 11:14:28
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