Stablecoin infrastructure firm KAST has successfully raised $80 million in a Series A funding round co-led by QED Investors and Left Lane Capital. This funding round values the company at approximately $600 million and will be instrumental in expanding its stablecoin-powered financial platform globally.
The capital infusion will accelerate KAST's expansion across North America, Latin America, and the Middle East. It will also drive product development, including the upcoming launch of KAST Business.
Founded in July 2024 by former Circle Vice President Raagulan Pathy, KAST enables users to store, earn, and spend digital dollars via Visa-supported cards. The company projects an annual revenue run rate of $100 million this year.
This investment highlights growing institutional interest in the stablecoin market, with companies like Rain also securing significant funding for international growth. Meanwhile, regulatory frameworks for stablecoins are developing in the U.S., with the OCC seeking public feedback on the GENIUS Act.