KAST, a global financial platform built on stablecoin rails, has secured fresh backing as investors increasingly look to digital dollar infrastructure as the next phase of modern financial services.
The company was founded by former Circle executive Raagulan Pathy and is positioning itself as a neobank designed for a global, digitally native user base that relies on faster and more flexible financial tools than traditional banking systems can offer.
The company has raised $80m in a Series A funding round co-led by QED Investors and Left Lane Capital. The round also included participation from returning investors Peak XV Partners, HSG and DST Global Partners, signalling continued investor confidence in stablecoin-based financial infrastructure.
Founded in July 2024, KAST offers USD-denominated accounts, global pay-in and payout capabilities to more than 190 countries, and a growing range of financial tools designed for both consumers and businesses.
Unlike many traditional financial platforms, the company’s infrastructure is built on stablecoin rails rather than legacy payment and settlement systems, allowing users to move funds internationally in dollars more quickly and efficiently.
The newly raised capital will be used to support the firm’s international expansion strategy, with plans to grow its presence across Latin America, North America and the Middle East. The investment will also support licensing efforts, compliance capabilities, product development and the expansion of its workforce as the platform continues to scale.
Since its launch, the company has reported rapid adoption. KAST now serves more than one million users and processes nearly $5bn in annualised transaction volume. According to the company, both revenue and user numbers are currently growing by roughly 15–20% month-on-month. KAST’s revenue has doubled since the end of September 2025, and the business expects to reach a $100m annual revenue run rate by 2026.
Industry data suggests that stablecoins are increasingly becoming a critical component of global financial infrastructure. Artemis Analytics estimates that global stablecoin transaction volume rose 72% last year to more than $33tn, surpassing the combined on-chain settlement volumes of major global card networks. Investors are increasingly viewing this growth as structural rather than temporary.
To support its expansion, KAST has significantly grown its workforce, hiring more than 250 employees across engineering, compliance and operations. Many recruits have been drawn from established FinTech and digital payments companies including Stripe, Revolut, Binance, Circle and Airwallex.
KAST founder and CEO Raagulan Pathy said: “The latest funding, raised less than 18 months from launch, reflects the confidence of leading investors in the stablecoin neobank thesis – and in Kast’s ability to execute it at global scale.
“KAST’s mission is to build the future of finance, powered by stablecoins and designed for the founders, creators and forward thinkers left behind by the traditional banking system. The platform is built for the global ambitions of individuals, not simply finance around processes and platforms, so they can get to wherever they want in life.
“Our end game is clear, to be the leading neobank for the stablecoin world, both for consumers and businesses. The pace at which we move, the team, and the world-class talent we’re attracting will play out further in 2026 and beyond.”
QED Investors co-founder and managing partner Nigel Morris said: “Stablecoin technology holds the potential to reshape the future of finance. We are thrilled to lead this round at KAST, and I am particularly pleased that Sandeep Patil will be joining the board to support them in scaling with the discipline of a true financial institution. KAST has a clear ambition and strong execution, and we look forward to being part of their growth journey.”
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