Kast, a stablecoin-focused payments startup, has raised $80 million in a funding round co-led by QED Investors and Left Lane Capital, valuing the company at $600 million. The firm anticipates reaching an annual revenue run rate of approximately $100 million by 2025. The capital will support regional expansion across North America, Latin America, and the Middle East, while enabling Kast to secure licenses, hire personnel, and develop new payment products.
The company provides US dollar-denominated accounts and payment cards in over 150 countries and plans to introduce savings and remittance offerings under its neobank platform. Kast co-founder Raagulan Pathy highlighted stablecoins as a solution to inefficiencies in traditional banking, emphasizing the need for faster, more open financial infrastructure aligned with digital commerce.
The funding comes amid growing stablecoin adoption, with total transfer volume reaching $1.8 trillion in February. USDC accounted for $1.26 trillion, while USDT contributed $514 billion, underscoring the continued institutional and consumer demand for regulated digital dollar solutions despite broader market pullbacks.
