KAST, a global financial platform built on stablecoin infrastructure, has raised $80 million in a Series A funding round co-led by QED Investors and Left Lane Capital. The round also saw participation from returning investors Peak XV Partners, HSG, and DST Global Partners. Founded by former Circle executive Raagulan Pathy, the company is positioning itself as a stablecoin-powered neobank designed to modernize global financial services and cross-border payments.
The new funding arrives at a time when stablecoins are gaining rapid global adoption, particularly in emerging markets and among internationally mobile professionals who require faster and more reliable access to dollar-based financial services. Traditional correspondent banking systems often struggle to meet the demand for real-time international payments, creating an opportunity for platforms like KAST that rely on blockchain-based settlement infrastructure.
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Launched in July 2024, KAST provides users with USD-denominated accounts, global pay-in and payout capabilities across more than 190 countries, and a range of consumer and business financial tools built directly on stablecoin rails rather than legacy payment networks. The company says its platform is designed to offer faster, lower-cost financial services while maintaining global accessibility for users who operate across borders.
Since its launch, KAST has experienced rapid growth, scaling to more than one million users and processing nearly $5 billion in annualized transaction volume. The company reports that both its user base and revenue are expanding by approximately 15 to 20 percent month over month, with revenue expected to reach a $100 million annual run rate by 2026. According to the company, its revenue has already doubled since September 2025, reflecting strong market demand for stablecoin-based financial services beyond traditional crypto trading.
Industry data supports this momentum. According to Artemis Analytics, global stablecoin transaction volume increased by 72 percent last year, reaching more than $33 trillion. This figure exceeded the combined on-chain settlement volumes of several major global card networks, signaling a structural shift in how digital value is transferred and stored in the modern financial ecosystem.
To support its rapid expansion, KAST has grown its workforce to more than 250 employees across engineering, compliance, and operations. The company has recruited talent from major fintech and technology firms including Stripe, Revolut, Binance, Circle, and Airwallex, strengthening its expertise across payments infrastructure and financial technology.
Speaking about the funding round, founder and CEO Raagulan Pathy said the investment reflects strong confidence in the stablecoin neobank model and the company’s ability to scale globally. He noted that KAST’s mission is to build a new financial system powered by stablecoins and designed for entrepreneurs, creators, and globally mobile individuals who often face limitations within traditional banking frameworks. The company ultimately aims to become the leading neobank for both consumers and businesses operating in a stablecoin-driven financial ecosystem.
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Investors also expressed optimism about the platform’s long-term potential. Nigel Morris, co-founder and managing partner at QED Investors, highlighted the transformative potential of stablecoin technology for global finance. He confirmed that Sandeep Patil, partner at QED Investors, will join KAST’s board to support the company as it continues scaling its operations with the discipline of a regulated financial institution.
Industry observers believe stablecoins are increasingly becoming the always-on digital dollar layer for transferring value across borders and asset classes. Investors at Left Lane Capital echoed this sentiment, noting that the coming years could mark a turning point as consumer-focused financial platforms begin integrating stablecoin infrastructure into mainstream financial services.
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With the new capital, KAST plans to accelerate its global expansion across Latin America, North America, and the Middle East while strengthening its regulatory licensing, compliance framework, and product development. The company believes this strategy will position it to capture the growing demand for fast, transparent, and globally accessible financial services in a rapidly evolving digital economy.
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