a16z and Coinbase invest, understand the emerging market digital dollar wallet ZAR in one article | CryptoSeed
The ZAR plan is set to officially launch its services at the end of this summer, with the first stop in Pakistan.Author: Fairy, ChainCatcher
Editor: TB, ChainCatcher
In the wave of payment innovation, new companies are emerging one after another, and the digital dollar wallet Zar is one of them. However, unlike most startups that focus on the U.S. market, Zar initially places its emphasis on cash-dominated economies in Latin America, Asia, and Africa.
Zar offers a digital dollar wallet that allows users to find nearby supported merchants through the app, conveniently exchange their cash for stablecoins, and spend at merchants worldwide that accept Visa using a linked Visa debit card.
How Does Zar Work?
Zar focuses on providing a channel to exchange cash for dollar stablecoins in emerging markets. Zar believes that in cash-dominated countries with significant currency fluctuations, users have higher trust in the dollar, indicating a potential market space.
Zar does not build a payment network from scratch but leverages the existing "trust proxy networks" in each country: such as convenience stores in Latin America, phone recharge shops in South Asia, and remittance points in Africa, which handle hundreds of billions of dollars in cash flow annually.
Users simply walk into a nearby store, scan the QR code provided by Zar, view merchant ratings through the mobile app, enter the exchange amount, and then hand over cash. Within seconds, they receive an equivalent amount of stablecoins in their mobile wallet. These stablecoins can be used for savings, transfers, or even daily spending, while merchants earn profits through exchange rate differences and incentives from the Zar platform.
Zar also offers a "non-crypto native user-friendly" self-custody wallet, equipped with a consumable Visa card, creating a complete closed loop from "cash" to "stablecoin" to "spending payment."
Team Background
Zar's founder and CEO Brandon Timinsky graduated from the University of Miami with a degree in Marketing and Entrepreneurship and studied Economics at Florida International University. According to LinkedIn, he has founded 10 projects since 2005, covering various fields including web design, real estate SaaS platforms, corporate fleet fuel management solutions, and high-performance skincare and anti-aging products for men.
Among these, the most representative project is the digital bank SadaPay, which achieved over $1.5 billion in annual transaction volume within five years. In September 2024, Timinsky founded Zar, aiming to provide a more convenient channel for stablecoin usage for people living in regions with currency instability.
Zar co-founder Sebastian Scholl graduated from Boston University with a Bachelor of Science degree. He initially worked as a web developer at XO Group and later served as the Director of Product and Developer Relations at 8base. In December 2022, he founded the AI content platform Walkthrough.ai, focusing on the development of generative content tools. In September 2024, Scholl founded Zar.
Left: Brandon Timinsky, Right: Sebastian Scholl
Project Progress
In October 2024, Zar completed its angel round financing, receiving support from several well-known angel investors, including Solana Labs co-founder Toly and former Coinbase CTO Balaji. Subsequently, on April 30, 2025, Zar announced the completion of a $7 million financing round led by prominent institutions such as Dragonfly Capital, a16z, VanEck, and Coinbase Ventures.
Zar has not officially launched yet, but the company states that approximately 100,000 users have joined the waiting list, and around 7,000 merchants have expressed willingness to cooperate, covering regions including Pakistan, Bangladesh, Indonesia, Nigeria, Lebanon, and Argentina. Zar plans to officially launch its services by the end of this summer, with the first location in Pakistan, and currently has no plans to enter the U.S. market, intending to gradually expand to more countries based on market feedback.
(This article only introduces the early-stage project and does not constitute investment advice.)
