KAST raises $80M in a Series A round led by QED Investors and Left Lane Capital to expand its stablecoin powered financial platform across the Middle East and global markets.
Stablecoin based fintech platform KAST has raised $80 million in a Series A funding round as it looks to expand its stablecoin powered financial services across global markets, including the Middle East.
The round was co led by QED Investors and Left Lane Capital, with participation from returning investors Peak XV Partners, HSG (HongShan Capital Group), and DST Global Partners. The new funding reflects growing investor confidence in stablecoins as a foundation for next-generation global financial services. Founded in 2024 by former Circle executive Raagulan Pathy, KAST is building a financial platform that allows individuals and businesses to hold U.S. dollar denominated accounts and move money globally using stablecoin infrastructure instead of traditional banking rails.
Unlike conventional fintech platforms that rely on legacy payment networks, KAST’s system is built on stablecoin rails, enabling faster and more efficient cross-border transactions. The platform offers services including global pay ins and payouts, digital accounts, and payment cards, supporting transfers to more than 190 countries worldwide.
The newly raised capital will be used to accelerate international expansion across Latin America, North America, and the Middle East, while also supporting licensing, compliance infrastructure, product development, and workforce growth. Since launching in July 2024, the company has experienced rapid growth. KAST reports more than one million users on its platform and processes nearly $5 billion in annualized transaction volume, highlighting the increasing demand for stablecoin enabled financial services beyond the crypto trading ecosystem.
The company also expects its revenue to reach a $100 million annual run rate by 2026, with both revenue and user growth currently increasing around 15–20% month-on-month. Industry data suggests the rise of stablecoins is reshaping global financial infrastructure. According to analytics firm Artemis, global stablecoin transaction volume surpassed $33 trillion last year, signaling growing adoption of blockchain based settlement networks as alternatives to traditional banking systems.
To support its rapid expansion, KAST has already built a team of more than 250 employees across engineering, compliance, and operations, hiring talent from companies including Stripe, Revolut, Binance, and Airwallex. With investors increasingly backing stablecoin-powered fintech platforms, KAST is positioning itself as a global neobank built on blockchain rails, targeting consumers and businesses that require faster, cheaper cross-border financial services.
