Kast, a stablecoin payments platform, has secured $80m in a Series A funding round co-led by QED Investors and Left Lane Capital.
The round also included participation from existing backers Peak XV Partners, HSG and DST Global Partners.
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The funding comes as stablecoin usage continues to increase globally, alongside investor interest in startups offering digital-dollar accounts. The fundraising valued Kast at $600m, Bloomberg reported, citing people familiar with the matter.
In a statement, Kast said it will use the new capital to expand across Latin America, North America and the Middle East. The company also plans to speed up efforts on licencing, compliance, product development and hiring.
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.
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By GlobalData“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.”
Founded in July 2024, Kast offers USD-denominated accounts as well as global pay-ins and payouts to more than 190 countries.
The company’s leadership is based in Singapore.
It claims to have grown to more than one million users since launch, processing nearly $5bn in annualised transaction volume. The company expects revenue to reach a $100m annual run rate in 2026.
Kast said it has hired more than 250 staff across engineering, compliance and operations. The company added that recent recruits have joined from Stripe, Revolut, Binance, Circle and Airwallex.
