PANews reported on October 28th that Bloomberg News reported that a16z led a $12.9 million investment in ZAR, a stablecoin infrastructure company that aims to popularize stablecoins in Pakistan through street vendors. The round included participation from Dragonfly, VanEck Ventures, Coinbase Ventures, and Endeavor Catalyst. The ZAR platform allows users to exchange cash for digital dollars and spend them through wallets and Visa cards, aiming to address the payment needs of the country's large unbanked population. If the model proves successful, ZAR plans to expand to Africa by 2026.
Pakistani stablecoin company ZAR completes $12.9 million financing, led by a16z
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