Former SoftBank Ventures investor Akshay Naheta is considering selling his stake in the stablecoin startup DTR

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.