PANews reported on December 11 that Bloomberg quoted people familiar with the matter as saying that Distributed Technologies Research Ltd. (DTR), a stablecoin payment startup co-founded by former SoftBank executive Akshay Naheta, is in preliminary talks with several strategic investors and venture capital firms and plans to sell a minority stake to raise funds. The specific financing scale and valuation have not yet been disclosed.

DTR uses blockchain technology to process stablecoin transactions in cross-border payments. This round of financing will be used to expand to new markets including the United States.