Zar, a startup founded by former SadaPay CEO Brandon Timinsky, has raised $7 million to launch a global network that allows people to exchange cash for stablecoins at corner stores around the world.The round includes backing from major investors such as Andreessen Horowitz (a16z), Dragonfly Capital, VanEck Ventures, Coinbase Ventures, and co-founders of the Solana blockchain.The company’s valuation was not disclosed, according to a report from Fortune.Timinsky Pushes for Stablecoin UsageTiminsky told Fortune that he aims to make stablecoins accessible to users in cash-heavy economies through existing retail infrastructure.With stablecoins now representing a $238 billion market and growing in importance for cross-border payments and inflation protection, Zar aims to turn any store into a physical crypto exchange.To accomplish this, the company is tapping into a network of over 28 million mobile money agents globally—individuals and businesses that already facilitate more than $1.5 trillion in financial services outside the traditional banking system.Zar’s platform will allow users to walk into a local shop, scan a QR code, and initiate a transaction via the Zar app.Customers can review vendor ratings, check exchange rates, and hand over cash in exchange for stablecoins like USDT or USDC, which will be deposited directly into their digital wallets.Store owners can earn money by applying a margin to the exchange rate, while Zar collects a transaction fee, varying by region.The service is not yet live but is already gaining traction. Nearly 100,000 users have signed up for Zar’s waitlist, and 7,000 vendors across 20 countries—including Pakistan, Nigeria, Argentina, and Indonesia—have expressed interest. Unlike typical crypto platforms, ZAR is engineered to facilitate dollar inflows without enabling capital flight. By helping people access stable digital dollars while keeping that value within their local economies, we're addressing a critical need—especially in countries like…— ZAR (@zardotapp) April 30, 2025 Timinsky says the company is not initially targeting the U.S., where stablecoin usage is relatively limited due to a more stable currency and mature banking systems.Instead, the focus is on emerging markets where people lack reliable access to financial services and seek alternatives to volatile local currencies.The funding will be used to expand Zar’s team, open new offices, and continue building out the technology. The company plans to launch its service by the end of the summer.Stablecoin Market to Surge 10x to $2 Trillion by 2030Citigroup has projected a dramatic rise in the stablecoin market, forecasting that its total market capitalization could soar from nearly $240 billion today to over $2 trillion by 2030.The prediction says the growth in adoption would be driven by regulatory developments and increased interest from both financial institutions and the public sector.According to the banking giant, stablecoin supply could reach $1.6 trillion by the end of the decade under its base-case scenario, while a more optimistic outlook places the figure at $3.7 trillion.As reported, the number of active stablecoin wallets has surged by over 50% in the past year, reflecting growing adoption and engagement within the digital asset ecosystem.More specifically, active stablecoin addresses increased from 19.6 million in February 2024 to 30 million in February 2025, marking a 53% year-on-year growth.The post Zar Secures $7M From A16z, Dragonfly to Bring Stablecoins to Local Stores appeared first on Cryptonews.

Read full article on CRYPTONEWS