ZAR, a company backed by Andreessen Horowitz (a16z), is introducing stablecoins in Pakistan. The project lets people convert cash into digital money using mobile wallets. Customers can scan QR codes at small shops to access these digital payments.
The initiative focuses on people who have no bank accounts. Many Pakistanis still rely on cash for daily transactions. By using local shops, ZAR makes digital payments simple and easy to access for everyone. Small shops act as points where people can safely exchange cash for stablecoins.
What makes Stablecoins different from cryptocurrencies like Bitcoin or Ethereum is that their value stays stable. People can pay, save, or send money without worrying about price changes. Using ZAR Stablecoin also reduces fees and speeds up transactions.
ZAR uses existing shops to avoid building a new network. These shops are already trusted by the community, which makes it easier for people to adopt digital payments. The system also opens opportunities to use e-commerce and other online services.
ZAR was founded by Sebastian Scholl and Brandon Timinsky, who previously created SadaPay. They sold SadaPay to Papara Turkey in 2024. The past experience helps ZAR introduce modern financial technology in Pakistan.
The company has raised $7 million in seed funding to build this system. The investors are Andreessen Horowitz (a16z), Dragonfly Capital, VanEck Ventures, Coinbase Ventures, and Solana blockchain founders. The funding will help ZAR expand its global network and make stablecoins in Pakistan widely available.
