a16z leads $12.9M round for ZAR to bring stablecoins to Pakistan’s unbanked

Venture capital firm Andreessen Horowitz (a16z) is leading a $12.9 million funding round for ZAR, a fintech startup focused on making dollar-backed stablecoins accessible to Pakistan's unbanked population of over 100 million adults. Unlike typical crypto companies, ZAR plans to distribute stablecoins through established local networks like corner stores, phone kiosks, and money agents, allowing users to swap cash for stablecoins via QR codes, which are then stored in a mobile wallet connected to a Visa card. Co-founded by Sebastian Scholl and Brandon Timinsky, ZAR has raised $20 million total and intends to expand to African markets in 2026 if the Pakistani pilot succeeds. This development occurs as Pakistan moves to regulate virtual assets through the newly established Pakistan Virtual Assets Regulatory Authority (PVARA).

(Source：Cointelegraph)