Stablecoin startup Zar completes $7 million in financing, led by a16z and others

Odaily News Stablecoin startup Zar announced the completion of a $7 million financing led by a16z, Dragonfly Capital, and VanEck Ventures. The project aims to launch a stablecoin ZAR pegged to the South African rand, focusing on digital payments and cross-border transactions in the African market. ZAR plans to ensure compliance and stability by working with local financial institutions and promote the widespread use of stablecoins in Africa. (Fortune)