KAST, a stablecoin-native banking platform, has raised $80 million in a Series A funding round led by QED Investors and Left Lane Capital, less than 18 months after launch.
Returning backers Peak XV Partners, HSG and DST Global Partners also participated in the round.
The company offers US dollar-denominated accounts and payment services to more than 190 countries, targeting users in emerging markets and internationally mobile workforces where demand for fast dollar transfers outpaces traditional correspondent banking infrastructure.
KAST has grown to more than one million users and is processing nearly $5 billion in annualised transaction volume, with the company projecting revenues to reach a $100 million annual run rate in 2026.
The company said users and revenue are growing approximately 15% to 20% month-on-month, with revenue doubling since the end of September 2025.
Raagulan Pathy, founder and chief executive, said: "The latest funding reflects the confidence of leading investors in the stablecoin neobank thesis and in Kast's ability to execute it at global scale."
KAST has hired more than 250 employees across engineering, compliance and operations, recruiting from firms including Stripe, Revolut, Binance, Circle and Airwallex.
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The raise arrives as stablecoin adoption accelerates worldwide, with global stablecoin transaction volume growing 72% last year to more than $33 trillion, according to data from Artemis Analytics, surpassing the combined on-chain settlement volumes of major global card networks.
The new capital will fund expansion across Latin America, North America and the Middle East, and accelerate licensing, compliance and product development.
The recap
- KAST raised $80 million in a Series A funding round.
- The platform processes nearly $5 billion in annualized transactions.
- Funds will finance expansion across Latin America, North America, Middle East.