While the risks of increasing stablecoin adoption initially seemed distant, if not invisible, the recent news of a $12.9 million seed investment in the founders of Sadapay’s new stablecoin venture, Zar, increases the urgency for regulation and an undisputed regulator. It is necessary to provide founders with incentives to build freely and commercially to sustain innovation, jobs, and opportunities in Pakistan, without compromising guardrails that safeguard the national interest.
This comes against the backdrop of a recent report by KTrade, authored by its Associate Director Equity Research, Muhammad Faran, highlighting the key economic risks of stablecoin adoption — a use case Zar is tapping into to broaden access to capital inflows, primarily remittances.
Zar raised its seed funding from leading dollar investors following its previous $7m pre-seed round — both rounds led by Andreessen Horowitz (a16z), often ranked as the company with the most assets u
Continue Reading on Dawn
This preview shows approximately 15% of the article. Read the full story on the publisher's website to support quality journalism.