As a seasoned crypto investor with a background in traditional finance, I find Akshay Naheta’s move to sell a minority stake in his stablecoin payments startup quite intriguing. Having made billions from some of SoftBank’s biggest deals and being a former trader at Deutsche Bank AG, it seems Akshay has a knack for spotting promising opportunities.
It appears that Akshay Naheta is allegedly discussing the possibility of selling a portion of his shares in his startup focused on stablecoin payments. His intention is to utilize the funds received from this sale for expanding the company’s presence within the market.
It’s said that Akshay Naheta, a former top executive at SoftBank who played a significant role in some of the company’s major transactions, is allegedly engaged in preliminary talks about selling a portion of the shares he owns in the startup he co-founded, which focuses on stablecoin payments. This information comes from sources close to the situation, as reported by Bloomberg.
As a crypto investor, I’ve learned about Distributed Technologies Research, a company leveraging blockchain technology to facilitate cross-border stablecoin transactions. According to my sources, they aim to expand their operations into new markets, such as the United States. However, details about the size of their first public fundraising round and valuation are still under discussion as they engage in negotiations with various strategic investors and venture capital firms.
Representatives from DTR have announced that they currently provide payment options in more than 40 nations, a number set to expand to over 100 countries by the next year. These services are expected to process billions of dollars in transactions annually.
The move comes a few months after fintech giant Stripe revealed a $1.1 billion deal to acquire stablecoin startup Bridge. Meanwhile, Tiger Global Management-backed BVNK, a stablecoin payments company, is also in early talks to raise $50 million as interest in the sector grows.
Previously employed at Deutsche Bank AG, Naheta played a crucial role in several significant transactions for SoftBank. According to Bloomberg, he was instrumental in presenting the idea of selling chip designer Arm Holdings to semiconductor designer Nvidia to Masayoshi Son, SoftBank’s founder. Furthermore, he spearheaded a $4 billion investment in Nvidia in 2017, resulting in a profit of approximately $3 billion.
In the year 2022, I was privileged to be among the founding members of DTR, a venture that saw the collaboration of seasoned finance professionals such as Jason Griffith, who previously held the position of global head of equities at Jefferies Financial Group Inc, and Hasan Sabri, a former COO at SB Management Ltd. As per our company’s website, these distinguished individuals joined me in this exciting new endeavor.
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2024-12-11 13:46