Stablecoin Startup ZAR Raises $12.9 Million to Bring Digital Dollars to Emerging Markets

Stablecoin fundraise: On Tuesday, stablecoin platform ZAR announced a $12.9 million raise led by a16z Crypto, with participation from Dragonfly Capital, VanEck, and Coinbase Ventures. The company is building a network that lets people in cash-based, high-inflation economies easily access and use digital dollars through local merchants.

• "The opportunity to bring global USD and financial product access to emerging market cash and shadow economies is the largest in all of consumer fintech, and ZAR will be at the forefront of this revolution," commented Rob Hadick, General Partner at Dragonfly Capital.

Interview: In our conversation, ZAR’s co-founder and CEO Brandon Timinsky explained how his experience building a Pakistan-based fintech shaped his perspective on stablecoins, how the company plans to expand its network and geographic footprint, and how he views Western Union’s recent entry into the stablecoin space.

On why ZAR was created and how it works:

On building and scaling the money agent networks:

On the product vision and broader opportunity:

On current traction and future expansion:

On Western Union’s stablecoin plans: