a16z Backs ZAR to Expand Stablecoins in Pakistan

Andreessen Horowitz Backs ZAR to Expand Stablecoins in Pakistan

Written by Aaron S.,

Editor-In-Chief

Last Updated: October 29, 2025

Key Takeaways

ZAR raised $12.9 million, led by a16z, to bring dollar-based stablecoins to users in Pakistan;
The startup uses local shops and kiosks for cash-to-digital stablecoin exchanges;
Founded by ex-SadaPay creators, ZAR aims to simplify digital access for the unbanked.

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A new financial technology company, ZAR, has raised $12.9 million in funding led by Andreessen Horowitz (a16z).

The startup is focused on making stablecoins, digital tokens linked to the US dollar, accessible to users in Pakistan.

The funding round also included support from Dragonfly Capital, VanEck Ventures, Coinbase $1.72B Ventures, and Endeavor Catalyst, according to a Bloomberg report on October 28.

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Instead of relying on apps or international crypto platforms, ZAR uses existing local networks such as convenience stores, mobile phone kiosks, and cash transfer agents.

At these locations, customers can bring in physical cash, scan a QR code, and receive stablecoins into their digital wallets. This wallet is connected to a Visa card that can be used globally.

By keeping the process simple and not requiring any knowledge of crypto technology, ZAR hopes more people will use digital dollars without confusion or technical barriers. This method is designed for users who are more comfortable with cash and have limited access to banking services.

ZAR’s founders, Sebastian Scholl and Brandon Timinsky, previously started another mobile payments company, SadaPay, which was sold to Turkish firm Papara in 2024. Their experience in digital finance helps shape ZAR’s practical approach to financial access.

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