Exclusive: Stablecoin company Zar raises $7 million in round led by Dragonfly Capital, Andreessen Horowitz and VanEck Ventures

Exclusive: Stablecoin company Zar raises $7 million in round led by Dragonfly Capital, Andreessen Horowitz and VanEck Ventures

While they may be called something different in every country, corner stores offer convenient access to snacks and beverages as well as phone minutes and remittances. The former CEO of a Pakistan-based payments company Brandon Timinsky wants to add stablecoins to the list of what these mom and pop businesses handle.  As stablecoins—a type of cryptocurrency designed to maintain a value in line with the U.S. dollar—become an increasingly integral …

Dragonfly, A16z Crypto and Vaneck Ventures Lead $7M Funding for Stablecoin Startup Zar

Quick take: The fundraising also attracted participation from Coinbase Ventures and the co-founders of the Solana blockchain. Founded by Brandon Timinsky, Zar has already registered over 100,000 customer signups while over 7000 vendors have expressed interest. Vendors will be able to make money from the service by choosing their own exchange rates and adding a profit margin. Brandon Timinsky, former CEO of a Pakistani payments company has raise…