KAST Secures $80 Million Series A to Scale Stablecoin-Powered Banking Globally

KAST has raised $80 million in a Series A round co-led by QED Investors and Left Lane Capital to accelerate its stablecoin-powered financial platform. This latest injection values the 18-month-old startup at approximately $600 million. The company aims to provide a seamless bridge between digital assets and the traditional economy through high-speed infrastructure.

Founded by former Circle executive Raagulan Pathy, KAST operates as a neobank for the stablecoin world. It offers users virtual USD bank accounts and Visa debit cards that allow instant spending of digital assets across 150 million merchants. The platform avoids volatile tokens, focusing exclusively on dollar-backed assets like USDC and USDT.

The company utilizes stablecoin rails to bypass legacy correspondent banking systems. This architecture facilitates faster and cheaper cross-border transactions for over one million registered users globally. By removing traditional intermediaries, the platform provides a more accessible financial layer for users in underserved regions.

Since its launch, KAST has reached nearly $5 billion in annualized transaction volume. Revenue has doubled since late 2025, driven by high demand for digital dollar access in emerging markets facing currency instability. The firm is currently maintaining a monthly growth rate of nearly 20 percent.

To maintain its rapid scale, KAST integrates advanced software automation within its compliance and risk management layers. This tech-first approach allows the platform to streamline KYC processes and monitor global transaction patterns for enhanced security. These automated systems are critical for maintaining trust in a regulated environment.

Funding will support expansion into North America, Latin America, and the Middle East. The company also plans to launch KAST Business, a B2B division targeting corporate treasury management and low-cost cross-border payments. This expansion aims to capture the growing demand for corporate stablecoin solutions.

KAST has grown to over 250 employees, recruiting veterans from industry leaders like Stripe and Revolut. These hires bring specialized knowledge in scaling high-trust financial software across diverse regulatory environments. The team continues to focus on deepening licensing and technical infrastructure.