KAST, a stablecoin financial platform focused on cross-border payments, announced on Monday that it raised $80 million in Series A funding led by QED Investors and Left Lane Capital.
The company said it plans to use the funds to expand its products, invest in licensing and compliance and grow its team. KAST is building a platform to help people and businesses move funds across borders using stablecoins, enabling users to earn income globally, hold funds digitally, and spend them locally through a single system.
Stablecoin activity has surged in recent years, with transaction volume exceeding $35 trillion last year. However, only about 1% represent real-world payments such as remittances or wages, according to data from McKinsey and Artemis Analytics, leaving huge room for new payment platforms to grow.
Peak XV Partners, HSG and DST Global Partners also joined the early-stage funding round, which valued the company at $600 million, Bloomberg reported citing sources.
Since its launch 18 months ago, it has surpassed 1 million users and has annual trading volume of approximately $5 billion, the company said in a press release. Revenue has doubled since the end of September 2025, it added.
KAST connects digital dollars to local payment systems in supported markets. The platform aims to reduce the time, cost and number of steps involved in sending money across borders.
Raagulan Pathy, founder and CEO of KAST, said: “This latest financing reflects the confidence of leading investors in the stablecoin thesis and KAST’s ability to execute it on a global scale.”
KAST plans to expand into North America, Latin America and the Middle East. The company also plans to launch KAST business for payments, payroll and cross-border spending.
Nigel Morris, co-founder and managing partner of QED Investors, said: “Stablecoin technology has the potential to reshape the future of finance. We are delighted to be leading this round of funding on KAST.”
