KAST raises $80 million at $600 million valuation to expand stablecoin payments platform

Finance

Share

Share this article

Copy linkX (Twitter)LinkedInFacebookEmail

KAST raises $80 million at $600 million valuation to expand stablecoin payments platform

Funding will support product expansion, licensing and compliance as the company scales a platform for cross-border stablecoin payments.

By Olivier Acuna|Edited by Stephen Alpher

Mar 9, 2026, 12:43 p.m.

Make us preferred on Google

Stablecoin payments are still only a fraction of the total transactional volume. (Photo by Thriday on Unsplash/Modified by CoinDesk)

What to know:

• KAST, a stablecoin-powered cross-border payments platform, raised $80 million in Series A funding led by QED Investors and Left Lane Capital at a reported $600 million valuation.
• The company plans to use the capital to expand its product, licensing and compliance efforts, and team.
• KAST aims to tap into the largely untapped market for real-world stablecoin payments by connecting digital dollars to local payout systems and expanding across North America, Latin America and the Middle East, including with a new KAST Business offering.

KAST, a stablecoin-powered financial platform focused on cross-border payments, raised $80 million in Series A funding led by QED Investors and Left Lane Capital, the company announced on Monday.

The company said it plans to use the funding to expand its product, invest in licensing and compliance and grow its team. KAST is building a platform that helps people and businesses move money across borders using stablecoins, allowing users to earn income globally, hold funds digitally, and spend locally through a single system.

Stablecoin activity has surged in recent years, with more than $35 trillion in transactions last year. However, only about 1% represented real-world payments such as remittances or payroll, according to McKinsey and Artemis Analytics, leaving significant room for new payment platforms to grow.

Peak XV Partners, HSG, and DST Global Partners also joined the early-stage funding round, which valued the company at $600 million, according to sources cited by Bloomberg.

In its press release, the company said it has reached more than 1 million users and processes about $5 billion in annualized transaction volume since launching 18 months ago. Revenue has doubled since the end of September 2025, it added.

KAST connects digital dollars with local payout systems in supported markets. The platform aims to reduce the time, cost and number of steps involved in sending money across borders.

“The latest funding reflects the confidence of leading investors in the stablecoin thesis and in KAST’s ability to execute it at global scale,” said Raagulan Pathy, founder and CEO of KAST.

KAST plans to expand across North America, Latin America and the Middle East. The company also plans to roll out KAST Business for payouts, payroll and cross-border spending.

“Stablecoin technology holds the potential to reshape the future of finance. We are thrilled to lead this round at KAST,” said Nigel Morris, co-founder and managing partner at QED Investors.

Stablecoinpayments

More For You

Pudgy Penguins: Challenging the Pokemon and Disney Legacy in the Global IP Race

By CoinDesk Research

Feb 27, 2026

Commissioned byPudgy Penguins

CoinDesk Research looks into how Pudgy Penguins disrupts traditional toys market via a phygital model. With 2M+ units sold, they scale via global partnerships and events.

What to know:

• Disrupting a Stagnant Market: Pudgy Penguins is utilizing a "Negative CAC" model to challenge the traditional $31.7B licensed toy industry by treating physical merchandise as a profitable user acquisition tool rather than just a final product.

View Full Report

More For You

Bithumb faces proposed 6-month partial ban over South Korea AML breaches

By Francisco Rodrigues, AI Boost|Edited by Stephen Alpher

3 minutes ago

The suspension, according to local media reports, would only restrict virtual asset transfers for newly registered users, not affecting existing customer operations.

What to know:

• Bithumb reportedly received a preliminary notice from South Korea’s FIU regarding a proposed six-month partial suspension and a reprimand for its CEO.
• The notice cites alleged violations for poor AML/KYC enforcement and transactions with unregistered overseas platforms.
• The suspension would only restrict virtual asset transfers for newly registered users, not affecting existing customer operations.

Read full story

Latest Crypto News

Bithumb faces proposed 6-month partial ban over South Korea AML breaches

3 minutes ago

U.S. Treasury signals shift on crypto mixers, acknowledges legitimate privacy uses

23 minutes ago

Michael Saylor's Strategy made $1.3 billion bitcoin purchase last week

35 minutes ago

Bitcoin is beating stocks and gold as the Middle East conflict rattles global markets

1 hour ago

Bitcoin stays calm while other markets panic: key levels to watch

1 hour ago

Nasdaq and Kraken are teaming up to let you trade tokenized stocks

1 hour ago

Top Stories

Bitcoin rises as oil spikes, equities drop

2 hours ago

U.S. isn’t really exposed to oil shocks and that might be helping bitcoin stay resilient

6 hours ago

Nigel Farage takes 6% stake in UK bitcoin treasury firm Stack BTC

3 hours ago

Oil pulls back from 25% spike as G7 discusses emergency reserve release

5 hours ago

Bitcoin could face deeper downside as odds of U.S. market meltdown rise to 35%

7 hours ago

Trump's cyber strategy vows to 'support the security' of cryptocurrencies and blockchain

Mar 7, 2026