a16z Backs ZAR’s $12.9M Pakistan Cash-to-Stablecoin Onramp
Andreessen Horowitz (a16z) has led a $12.9 M Series A round for ZAR, a fintech startup that enables cash-to-stablecoin conversions in emerging markets. Founded in 2024 by Brandon Timinsky and Sebastian Scholl, ZAR deploys local agents—corner shops, mobile kiosks and payment agents—to facilitate real-time dollar-pegged stablecoins via QR code scans into digital wallets linked to Visa cards. The Pakistan pilot targets the country’s third-largest unbanked population, removing technical barriers and driving crypto accessibility. ZAR will use the funding to expand into Indonesia, Nigeria, Argentina and 20 more markets. A16z’s State of Crypto 2025 report notes stablecoin onchain volume reached $46 T and monthly transfers topped $1.25 T in September, with USDT holding 60% of the $308 B market cap. Prior investors include Solana co-founders, VanEck Ventures, Dragonfly Capital, Coinbase Ventures and Endeavor Catalyst.
Bullish
By easing cash-to-stablecoin conversions through local agents, ZAR’s funding round and market expansion are set to boost stablecoin adoption, notably USDT, in Pakistan and other emerging markets. This new onramp will likely increase trading volume and liquidity for stablecoins, creating a positive environment for crypto traders. In the short term, the immediate impact on USDT’s peg is minimal, but rising transaction flows can strengthen market confidence. Over the long term, broader stablecoin usage enhances infrastructure, deepens liquidity pools and underpins further growth in decentralized finance. These factors collectively support a bullish outlook for USDT and the wider stablecoin sector.