TechFlow news, April 30 — According to Fortune magazine, stablecoin startup Zar announced a $7 million funding round led by a16z, Dragonfly Capital, and VanEck Ventures. The project aims to launch ZAR, a stablecoin pegged to the South African rand, focusing on digital payments and cross-border transactions in African markets. ZAR plans to partner with local financial institutions to ensure compliance and stability, promoting widespread adoption of stablecoins across Africa.
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