KAST, a stablecoin financial platform focused on cross-border payments, has raised $80 million in Series A funding led by QED Investors and Left Lane Capital, the company announced Monday.
The company said it plans to use the funding to develop its product, invest in licensing and compliance, and grow its team. KAST is building a platform that helps individuals and businesses move money across borders using stablecoins, allowing users to earn globally, hold funds digitally, and spend locally through a single system.
Stablecoin activity has increased in recent years, with over $35 trillion in transactions last year. However, according to McKinsey and Artemis Analytics, only about 1% represented actual payments such as remittances or salaries, leaving significant room for the development of new payment platforms.
Peak XV Partners, HSG and DST Global Partners also joined the initial 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 processed approximately $5 billion in annualized transaction volume since its launch 18 months ago. Revenues have doubled since the end of September 2025, he adds.
KAST connects digital dollars to local payment systems in supported markets. The platform aims to reduce the time, costs and number of steps required to send money across borders.
“The latest funding reflects major investors’ confidence in the stablecoin thesis and KAST’s ability to execute it on a global scale,” said Raagulan Pathy, founder and CEO of KAST.
KAST plans to expand into North America, Latin America and the Middle East. The company also plans to deploy KAST Business for payments, payroll and cross-border spending.
“Stablecoin technology has the potential to reshape the future of finance. We are excited to lead this cycle at KAST,” said Nigel Morris, co-founder and managing partner of QED Investors.
