Kast raises $80M Series A led by QED Investors, Left Lane Capital for stablecoin payments

Stablecoin fintech Kast announced on March 9, 2026, that it has raised $80 million in Series A funding at a $600 million valuation, led by QED Investors and Left Lane Capital.

The company, which already serves over one million users with $5 billion in annual transaction volume, plans to expand across North America, Latin America, and the Middle East. Founded by former Circle executive Raagulan Pathy, Kast positions itself as a stablecoin-based alternative to traditional banking for cross-border payments.

A funding round that values Kast at $600 million

The Series A round reportedly values Kast at approximately $600 million, reflecting strong investor confidence in the company’s growth potential.

Founded in July 2024 by former Circle executive Raagulan Pathy, Kast positions itself as a digital financial platform that enables users to hold and spend dollar-denominated balances using stablecoins instead of traditional banking infrastructure.

The company already offers USD-denominated accounts, payment cards, and global money transfer services that allow users to send or receive funds in more than 190 countries.

Kast’s rapid growth appears to be a key factor attracting investors.

The company reports over one million users and nearly $5 billion in annualised transaction volume since its launch less than two years ago.

“The latest funding reflects the confidence of leading investors in the stablecoin neobank thesis, and in Kast’s ability to execute it at a global scale.”

Raagulan Pathy, Founder and CEO of Kast, said in a statement announcing the funding.

He added that the company aims to build a financial platform that allows people to earn globally, hold funds digitally, and spend locally, using blockchain-based settlement instead of legacy payment systems.

Why investors are betting on stablecoin payments

Kast’s funding arrives at a time when stablecoins are gaining traction as an alternative infrastructure for cross-border financial services.

Traditional international payments often rely on correspondent banking networks, which can involve multiple intermediaries, high fees, and settlement delays.

By contrast, stablecoin transactions can move funds nearly instantly across borders using blockchain rails.

According to company statements, the demand for faster and cheaper international payments—particularly among globally mobile workers and businesses—has increased significantly in recent years.

Industry data suggests the trend is accelerating. Stablecoin transaction volume grew significantly in recent years, reaching tens of trillions of dollars in annual settlement value.

Global expansion plans for Kast

With fresh capital secured, Kast intends to scale its platform across several regions where cross-border payment demand is growing rapidly.

The company plans to expand into North America, Latin America, and the Middle East, while also investing heavily in regulatory compliance and product development.

Kast currently employs around 250 staff members across engineering, compliance, and operations, with leadership teams based in Singapore and the United Arab Emirates.

According to the company, revenue has doubled since late 2025 and could reach a $100 million annual run rate in 2026 if growth continues at the current pace.

Several major payment companies, including PayPal and Stripe, have launched or integrated stablecoin services as they seek to reduce transaction costs.

The bigger picture for crypto and fintech

The rapid rise of stablecoin payment platforms like Kast signals a potential transformation in how money moves globally.

If successful, these systems could enable individuals and businesses to hold digital dollars, send funds internationally, and spend locally without relying on traditional banking intermediaries.

While regulatory scrutiny and competition remain significant challenges, the scale of venture investment flowing into stablecoin infrastructure suggests many investors believe blockchain-based payments could reshape global finance in the coming decade.

For now, Kast’s $80 million funding round stands as another sign that the race to build the next generation of digital-dollar banking platforms is accelerating.