KAST, a US-based financial platform built on stablecoin rails, has raised USD 80 million in a Series A funding round co-led by QED Investors and Left Lane Capital.
Returning investors Peak XV Partners, HSG, and DST Global Partners also participated. The company will use the capital to expand across Latin America, North America, and the Middle East, and to accelerate licensing, compliance, product development, and headcount growth.
Founded in July 2024 by former Circle executive Raagulan Pathy, KAST offers USD-denominated accounts, global pay-ins and payouts to more than 190 countries, and a suite of consumer and business financial tools built on stablecoin infrastructure rather than legacy settlement networks. The company has scaled to more than one million users since launch and is processing nearly USD 5 billion in annualised transaction volume, according to its data. Revenue has doubled since the end of September 2025, with the company targeting a USD 100 million annual run rate in 2026.
Market context and expansion plans
The announcement comes against a backdrop of accelerating stablecoin adoption globally. According to Artemis Analytics, global stablecoin transaction volume grew 72% last year to more than USD 33 trillion, exceeding the combined on-chain settlement volumes of major global card networks. Demand is particularly pronounced across emerging markets and internationally mobile workforces, where correspondent banking infrastructure remains slow and costly.
KAST has grown its team to more than 250 employees across engineering, compliance, and operations, drawing from firms including Stripe, Revolut, Binance, Circle, and Airwallex. Planned product expansion in 2026 includes the launch of KAST Business as part of a broader neobank services offering.
Commenting on the news, Raagulan Pathy, Founder and CEO of KAST, described the funding as reflecting investor confidence in the stablecoin neobank thesis and the company's ability to execute at a global scale. Sandeep Patil, Partner at QED Investors, who will join the board, said stablecoins are rapidly becoming an always-on dollar layer for moving and holding value across borders. Expanding on this, Matthew Miller, Managing Partner at Left Lane Capital, said 2026 could represent a meaningful inflexion point as consumer-facing platforms bring stablecoin infrastructure to the mainstream.
