Former CEO of Pakistani fintech SadaPay Brandon Timinsky has launched a new venture called Zar with the goal of making stablecoins as accessible as cash. Stablecoins are a type of cryptocurrency designed to maintain a stable value by being pegged to a reserve asset, most commonly a fiat currency like the U.S. dollar. Unlike Bitcoin or Ethereum, which can be highly volatile, stablecoins aim to offer price stability, making them more practical for everyday use such as payments, savings, and remittances.
Zar has raised $7 million in seed funding to build a global cash-to-crypto exchange network, enabling people to convert physical currency into digital dollars at corner stores and local retail outlets around the world.
The funding round attracted heavyweight investors including Andreessen Horowitz (a16z), Dragonfly Capital, VanEck Ventures, Coinbase Ventures, and the co-founders of the Solana blockchain. While the startup’s valuation remains undisclosed, the participation of such high-profile backers underscores strong investor belief in Zar’s mission to expand global stablecoin access. The content in this publication is expensive to produce. But unlike other journalistic outfits, business publications have to cover the very organizations that directly give them advertisements. Hence, this large source of revenue, which is the lifeblood of other media houses, is severely compromised on account of Profit’s no-compromise policy when it comes to our reporting. No wonder, Profit has lost multiple ad deals, worth tens of millions of rupees, due to stories that held big businesses to account. Hence, for our work to continue unfettered, it must be supported by discerning readers who know the value of quality business journalism, not just for the economy but for the society as a whole.To read the full article, subscribe and support independent business journalism in Pakistan
