Former SoftBank executive Akshay Naheta considers selling part of his stablecoin startup to expand market

Former SoftBank Group executive Akshay Naheta is in preliminary talks to sell a minority stake in the stablecoin payments startup he co-founded, according to people familiar with the matter. Distributed Technologies Research Ltd., which uses blockchain to process cross-border payments, will use the funds to expand into new markets including the United States, the people said, asking not to be identified because the talks are private. The size and valuation of the initial public offering are unclear as the company is in talks with multiple strategic investors and venture capital firms, they said. (Bloomberg)