KAST launches stablecoin business platform for companies after $80M raise

KAST launches its new Stablecoin Payment platform for businesses after raising $80M, targeting thousands of companies with cross-border accounts, cards and payouts.

KAST Business comes months after the fintech secured an $80 million Series A round at a reported $600 million valuation, giving the company fresh capital to expand its product offering, pursue additional licenses and strengthen its international presence. The funding round was co-led by QED Investors and Left Lane Capital, with participation from Peak XV Partners, HSG and DST Global Partners.

KAST says it now has more than 1 million users and is targeting between 1,000 and 5,000 active businesses by the end of 2026. That puts the business launch at the center of its next growth phase as stablecoins increasingly move beyond crypto trading and into everyday payments and financial infrastructure.

KAST takes stablecoins into corporate finance

The new KAST Business offering is built around the idea that companies operating across borders should not have to rely entirely on conventional banking rails to receive, hold and move money.

Through the platform, businesses can access fiat virtual accounts supplied through regulated partners, deposit supported stablecoins and crypto assets, issue virtual cards and make payouts across multiple currencies. KAST’s business materials describe the product as a global financial hub for companies managing international teams, vendors and expenses.

The appeal of the Stablecoin Payment model is largely its ability to connect blockchain-based dollars with conventional financial infrastructure. Instead of requiring companies to treat stablecoins as a separate crypto product, KAST is positioning them as an underlying settlement rail for accounts, spending and international transfers.

The company says its wider platform operates in more than 170 countries, although the products and services available to customers depend on local regulations and jurisdictional restrictions. KAST’s official disclosures also make clear that it is a financial technology company, not a bank, with regulated services such as virtual accounts and cards provided through licensed partners.

Yield and cashback add another layer

KAST is also attempting to make the business account more than a payment tool by allowing companies to generate returns on eligible idle balances.

The company has promoted yields of up to 8% on business savings, while its broader product offering has also advertised higher promotional rates at certain times. KAST says its yield products can involve stablecoin-based strategies and short-term U.S. Treasury exposure, meaning the advertised return should not be interpreted as a conventional bank deposit rate.

The platform also offers cashback on eligible spending. KAST has promoted business-card rewards of up to 3%, giving companies another incentive to move expenses onto its payment infrastructure.

That combination could make the Stablecoin Payment model particularly attractive to companies with international payroll, contractors, advertising expenses or suppliers. Rather than moving money through several financial intermediaries, businesses can potentially keep funds within one platform and shift between digital assets, fiat currencies and card spending.

KAST founder and CEO Raagulan Pathy has argued that stablecoins are increasingly suited to a world where businesses and workers operate across borders. In a recent interview, Pathy said stablecoins are becoming a response to a globally connected population that still needs reliable financial services.

$80M funding fuels global expansion

KAST’s corporate push follows a major financing milestone announced in March.

The company raised $80 million in Series A funding at a reported $600 million valuation, with investors backing its ambition to build financial infrastructure around stablecoins. KAST said the capital would support product development, licensing, compliance and expansion across North America, Latin America and the Middle East.

The fundraising also highlighted the growing investor interest in stablecoin-based financial services. KAST said it had already surpassed 1 million users and was processing close to $5 billion in annualized transaction volume at the time of the raise.

Its push into business finance has also been accompanied by a stronger focus on regulation and government relations. In April, KAST appointed Stephanie Allen, a former senior adviser and communications official at the U.S. Securities and Exchange Commission, as its head of corporate and policy communications.

Brad Jaffe, KAST’s chief corporate affairs officer, said Allen’s regulatory background would help the company navigate its expansion, pointing to her “knowledge of the policy and regulatory landscape” as an important asset.

Allen herself said she was joining KAST as the company entered its next stage of growth, describing the platform’s goal as providing a dependable financial service for people operating globally.

KAST faces a crowded Stablecoin Payment race

The launch puts KAST into an increasingly competitive market where fintech companies, crypto firms and traditional financial institutions are all exploring stablecoins as a payment and settlement mechanism.

For KAST, the challenge is no longer simply demonstrating that businesses can use stablecoins. It must convince companies that its platform can provide the reliability, compliance, liquidity and customer support expected from financial infrastructure.

That makes its target of 1,000 to 5,000 active businesses by the end of 2026 an important test of whether stablecoin-based corporate finance can move from an emerging crypto use case into mainstream business operations.

The company’s latest expansion suggests KAST wants its Stablecoin Payment infrastructure to become largely invisible to the end user: companies receive money, pay employees and vendors, spend through cards and manage balances without necessarily having to think about the blockchain underneath.

If KAST can convert its existing consumer base into a meaningful business customer pipeline, the launch could become a significant step in its broader ambition to turn stablecoins from crypto-market instruments into everyday global financial infrastructure.