Ex-SoftBank Rainmaker Eyes Stake Sale in His Stablecoin Startup

Akshay Naheta, a former SoftBank Group Corp. executive known for overseeing some of its biggest deals, is in early 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 stablecoins for cross-border payments, will use the funds to expand into newer markets, including the US, the people said, who asked not to be identified as the talks are private. The size of the first public fundraise and valuation is not clear at this stage as it negotiates with multiple ...