KAST, a global financial platform built on stablecoin rails, has raised $80 million in a Series A funding round as investor interest grows in stablecoins as the infrastructure layer for modern financial services. The round was co-led by QED Investors and Left Lane Capital, with participation from returning investors Peak XV Partners, HSG, and DST Global Partners.
Founded in July 2024 by former Circle executive Raagulan Pathy, the company offers USD-denominated accounts along with global pay-ins and payouts across more than 190 countries. The platform provides a growing set of consumer and business financial tools built on stablecoin-based settlement rails rather than traditional banking infrastructure.
The new capital will support KAST’s expansion across Latin America, North America, and the Middle East while accelerating licensing, compliance, product development, and hiring.
Since launch, KAST has grown to more than one million users and is processing nearly $5 billion in annualized transaction volume. The company expects revenue to reach a $100 million annual run rate in 2026. Both users and revenue are currently growing about 15% to 20% month over month, and revenue has doubled since the end of September 2025.
The growth comes as stablecoins gain broader adoption beyond crypto trading and into mainstream financial services. According to Artemis Analytics, global stablecoin transaction volume increased 72% last year to more than $33 trillion, surpassing the combined on chain settlement volumes of major global card networks.
To support its growth, KAST has hired more than 250 employees across engineering, compliance, and operations, drawing talent from companies including Stripe, Revolut, Binance, Circle, and Airwallex.
The company aims to position itself as a global stablecoin-focused neobank serving consumers and businesses operating across borders, particularly in regions where traditional banking infrastructure creates friction for cross-border payments and dollar-based financial services.
KEY QUOTES:
“The latest funding, raised less than 18 months from launch, reflects the confidence of leading investors in the stablecoin neobank thesis – and in Kast’s ability to execute it at global scale. The platform is built for the global ambitions of individuals, not simply finance around processes and platforms, so they can get to wherever they want in life. Our end game is clear, to be the leading neobank for the stablecoin world, both for consumers and businesses. The pace at which we move, the team, and the world-class talent we’re attracting will play out further in 2026 and beyond.”
Raagulan Pathy, Founder And CEO Of KAST
“Stablecoin technology holds the potential to reshape the future of finance. We are thrilled to lead this round at KAST, and I am particularly pleased that Sandeep Patil will be joining the board to support them in scaling with the discipline of a true financial institution. KAST has a clear ambition and strong execution, and we look forward to being part of their growth journey.”
Nigel Morris, Co-Founder And Managing Partner At QED Investors
“Fintech is a trust business disguised as software, and stablecoins are rapidly becoming the always-on dollar layer for moving and holding value across borders and assets. KAST is building on this layer with a clear wedge and already showing strong customer traction. I am excited to partner with Raags and the team as they scale KAST into a stablecoin-native financial institution.”
Sandeep Patil, Partner At QED Investors
“Over the past several years, we’ve seen stablecoins emerge as critical infrastructure within the global financial system. We believe 2026 could represent a meaningful inflection point as consumer-facing platforms begin bringing that infrastructure to the mainstream. Individuals and businesses operating across borders deserve a seamless way to bank, spend, and save – without hidden fees, friction, or exposure to currency depreciation. KAST combines a forward-looking regulatory posture, a compelling product and brand, and an exceptional executive team to capitalize on this generational opportunity. We’re proud to partner with Raags and the entire KAST team as they enter this next phase of growth.”
Matthew Miller, Managing Partner At Left Lane Capital
