ChainCatcher news, according to informed sources, former SoftBank Group executive Akshay Naheta, known for overseeing some of its largest deals, is currently in preliminary talks to sell a minority stake in the stablecoin payment startup he co-founded.Distributed Technologies Research Ltd. (DTR), which uses blockchain to process cross-border payments with stablecoins, will use the funds to expand into new markets, including the United States, the sources said, speaking on condition of anonymity as the negotiations are private.They noted that it is unclear what the size and valuation of the initial public offering will be, as the company is in talks with multiple strategic investors and venture capital firms.

ChainCatcher news reports that, according to crypto-fundraising data, the stablecoin startup Agora has received investment from the Ethereum Layer 2 solution Linea, with the specific amount not yet disclosed.According to the Web3 asset data platform RootData, Agora announced in April this year that it completed a $12 million seed round financing, led by Dragonfly, with participation from General Catalyst and Robot Ventures. Agora will issue a stablecoin backed by cash, U.S. Treasury bonds, and overnight repurchase agreements.

ChainCatcher news, according to The Block, stablecoin startup Usual Labs has completed a $7 million financing round, led by IOSG Ventures, with participation from Kraken Ventures, GSR, Mantle, Starkware, Flowdesk, Avid3, Bing Ventures, Breed, Hypersphere, Kima Ventures, Psalion, Public Works, and X Ventures.It is reported that Usual Labs plans to use these funds to launch the stablecoin USD0 on the Ethereum mainnet in the second quarter of this year, needing to fund the testnet phase and smart contract audits.

ChainCatcher news, according to Bloomberg, stablecoin startup Agora has completed a $12 million seed round financing, led by Dragonfly, with participation from General Catalyst and Robot Ventures. Agora will issue a stablecoin backed by cash, U.S. Treasury bonds, and overnight repurchase agreements. Kyle DaCruz, Director of Digital Asset Products at VanEck, stated that VanEck will manage Agora's reserve fund. Agora plans to sign revenue-sharing contracts with partners.It is reported that Agora was co-founded by Nick Van Eck, son of investment management veteran Jan Van Eck, along with cryptocurrency experts Drake Evans and Joe McGrady.