CandleFocus SoftBank veteran Akshay Naheta in talks to sell stake in his stablecoin payments firm: report
2024-12-11
Author: Content Editor
Akshay Naheta, co-founder of stablecoin payments startup Distributed Technologies Research (DTR), is reportedly in talks to sell a minority stake in the company. The funds raised from the sale would be used to expand into new markets, including the United States. The size of the fundraising round and valuation are currently unclear as negotiations are ongoing with multiple investors. DTR offers payout and pay-in facilities in over 40 countries and plans to scale to over 100 countries next year. This news comes amid growing interest in the stablecoin sector, with fintech giant Stripe recently acquiring stablecoin startup Bridge and BVNK, another stablecoin payments company, in discussions to raise $50 million. Akshay Naheta, a former executive at SoftBank, was involved in some of the company's major deals before co-founding DTR in 2022.
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