KAST, an American financial platform leveraging stablecoin technology, recently secured USD 80 million in Series A funding. This round was co-led by QED Investors and Left Lane Capital.
Additional investors from the previous round, including Peak XV Partners, HSG, and DST Global Partners, also joined this new financing.
The funds will be used to expand KAST’s operations in Latin America, North America, and the Middle East. The company plans to focus on enhancing licensing, compliance efforts, product development, and headcount growth.
Company Background and Growth
Founded by Raagulan Pathy, a former executive at Circle, KAST provides USD-denominated accounts, global pay-ins and payouts to over 190 countries, along with an array of consumer and business financial tools based on stablecoin infrastructure. Since its launch in July 2024, the company has gained more than one million users and processes nearly USD 5 billion annually.
Revenue has doubled since September 2025, with KAST aiming for a USD 100 million annual run rate by 2026.
Market Context and Future Plans
The company’s growth coincides with the increasing adoption of stablecoins globally. According to Artemis Analytics, global stablecoin transaction volume surged by 72% last year, reaching over USD 33 trillion. This number surpasses combined on-chain settlement volumes of major global card networks.
KAST has expanded its workforce to over 250 employees, with staff sourced from organizations such as Stripe, Revolut, Binance, Circle, and Airwallex. The company plans to introduce KAST Business as part of a broader neobank service offering in 2026.
Speaking on the funding round, Raagulan Pathy, Founder and CEO of KAST, stated that it signifies investor confidence in stablecoin-based neobanks and the company’s ability to scale globally. Sandeep Patil from QED Investors, who will join the board, highlighted that stablecoins are becoming an essential layer for cross-border value transfer. Matthew Miller from Left Lane Capital added that 2026 might mark a significant milestone as consumer-facing platforms integrate stablecoin infrastructure into mainstream use.
