Stablecoin payments company KAST has raised $80 million in a Series A funding round, bringing the company’s valuation to about $600 million.
The investment was led by QED Investors and Left Lane Capital, with participation from Peak XV Partners, HSG, and DST Global Partners.
KAST is building a financial platform that uses stablecoins to make international payments easier. The system allows users and businesses to send money across borders, store funds digitally, and spend them locally through one integrated platform.
The company says it already has more than one million users and processes about $5 billion in annual transaction volume. Since launching about 18 months ago, its revenue has doubled.
Stablecoins have become increasingly popular in global finance. Stablecoin transactions exceeded $35 trillion in the previous year. But just around 1% of those transactions included actual payments, including salaries or remittances.
According to KAST, this gap offers new payment platforms a significant opportunity. The company intends to use the additional capital to develop its staff, get regulatory licenses, and advance its technologies.
Additionally, it intends to introduce additional services like KAST Business, which would assist businesses in handling payroll, payouts, and international expenditures.
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