Stablecoin Startup KAST Secures $80M Funding At $600M Valuation

Stablecoin payments startup KAST has raised $80 million in a new funding round, underscoring continued venture capital interest in companies building digital-dollar payment infrastructure.

The early-stage round values the company at approximately $600 million, according to people familiar with the matter. The sources also said KAST expects its annual revenue run rate to reach around $100 million this year, reflecting growing demand for stablecoin-based financial services.

According to a company spokesperson, the newly raised funds will be used to accelerate global expansion across key markets in North America, Latin America, and the Middle East

The capital will also support hiring, regulatory licensing, and the development of new products aimed at expanding the platform’s capabilities. The spokesperson declined to comment on the company’s valuation or projected revenue figures.

Founded in July 2024, KAST is led by co-founder and Chief Executive Officer Raagulan Pathy, who previously served as vice president for Asia Pacific and Singapore chief at Circle Internet Group Inc., the issuer of the USDC stablecoin. While the company is incorporated in the Cayman Islands, its leadership team operates primarily out of Singapore.

The latest funding round was finalized in October and was co-led by venture firms QED Investors and Left Lane Capital, according to the people familiar with the matter

KAST had earlier secured funding during a seed round in December 2024 led by HongShan Capital, formerly known as Sequoia China, along with Peak XV Partners. Representatives from QED Investors and Left Lane Capital did not immediately respond to requests for comment.

KAST offers a payments platform designed for storing, earning, and spending stablecoins, digital assets typically pegged to the value of fiat currencies such as the U.S. dollar

The company operates in a rapidly growing segment of the digital asset industry that has attracted increasing venture investment.

Interest in stablecoin payment infrastructure has intensified in recent months. Last week, Latin American fintech startup ARQ raised $70 million from Sequoia Capital and Founders Fund, while RedotPay secured $107 million in funding led by Goodwater Capital in December. Both companies, like KAST, focus on stablecoin-based payment services.

Data from Artemis Analytics shows that stablecoin transaction volumes surged 72% in 2025, reaching a record $33 trillion. The growth has been supported by improving regulatory clarity in the United States and increasing institutional participation in digital asset markets.

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