KAST raises $80M to expand global stablecoin payments

KAST raised $80M in Series A at a $600M valuation to expand its stablecoin payments platform globally, targeting North America, Latin America, and the Middle East, with projected $100M annual revenue this year.

Stablecoin payments company KAST has secured $80 million in a Series A funding round, bringing its valuation to $600 million. The round was co-led by QED Investors and Left Lane Capital, with additional backing from Peak XV Partners, HSG, and DST Global Partners. Founded in July 2024, KAST offers a platform for users and businesses to store, earn, and spend stablecoins, including Visa card integration for everyday payments. The company plans to use the new capital to accelerate global expansion in North America, Latin America, and the Middle East, as well as to invest in regulatory licensing, compliance, and product development. KAST reports a projected annual revenue run rate of $100 million this year, over 1 million users, and $5 billion in annualized transaction volume since its launch 18 months ago. The platform partners with regulated financial institutions and supports major stablecoins such as USDC, USDT, DAI, and PYUSD, aiming to streamline cross-border payments and bridge digital assets with traditional finance.