ZAR raises $13m to bring digital money to Pakistan

▤ Summary

ZAR raised $12.9 million in a new round led by Andreessen Horowitz, bringing its total funding to about $20 million. The company is building a network that lets customers swap cash for digital dollars at neighborhood shops and use a mobile wallet linked to a Visa card. Its model targets Pakistan’s large unbanked population and aims to make stablecoin-based payments easier to use. Pakistan’s new crypto licensing framework may help ZAR operate within a regulated market. The company also plans to expand into African markets if the Pakistan rollout succeeds.

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