Stablecoin payments company KAST has secured $80 million in a Series A funding round, achieving a valuation of $600 million. The investment was co-led by prominent venture capital firms QED Investors and Left Lane Capital, with participation from Peak XV Partners and DST Global Partners.
The funding, first reported by Bloomberg, represents one of the largest capital raises for a stablecoin-focused payments company in 2025. KAST, founded in July 2024 by former Circle executive Raagulan Pathy, provides accounts that allow users to store, earn, and spend stablecoins, including USDC, USDT, DAI, and PYUSD, via integration with Visa's global network.
The capital infusion will be used to accelerate technological development, enhance compliance frameworks, and fund geographic expansion into North America, Latin America, the Middle East, and Southeast Asia. The company is currently projecting an annual revenue run rate of $100 million for this year, indicating strong product-market fit.
Investor confidence is underpinned by several market trends: improved regulatory clarity in regions like the European Union under MiCA, increasing integration of stablecoin rails by traditional financial institutions, and accelerating consumer adoption for non-speculative transactions. Industry reports note that stablecoin transaction volumes exceeded $12 trillion in 2024, with a 150% increase in legitimate, non-speculative usage.
KAST differentiates itself through its technological infrastructure, offering sub-second transaction finality, automated multi-jurisdictional compliance checks, and insured custody. The company actively partners with regulated financial institutions to ensure security and operates with licenses in several jurisdictions, including Singapore and Switzerland.
