Stablecoin Startup Zar Secures $7M Funding Round Led by a16z

Zar, a stablecoin company focused on enhancing cross-border transactions in Africa, has secured a $7 million funding round led by venture capital firms a16z, Dragonfly Capital, and VanEck Ventures. This investment will support the launch of ZAR, a stablecoin pegged to the South African Rand. The startup aims to facilitate digital payments and streamline transactions within the African market.