Stablecoin payments startup Kast just raised $80 million according to Bloomberg. The round values the company at $600 million.
QED Investors and Left Lane Capital co-led the funding. Kast’s using it to expand dollar-denominated banking services across North America, Latin America, and the Middle East.
The company’s projecting $100 million in annual revenue for 2025. That’s a big milestone.
Kast operates a stablecoin-based banking platform. It offers cards and dollar accounts to users in over 150 countries.
Co-founder Raagulan Pathy says traditional banking is “fundamentally broken.” His solution? Internet-native stablecoins. They deliver faster, more accessible financial services worldwide.
The funding supports expansion. Hiring. Regulatory licenses. New products.
Kast offers payment cards and basic accounts now. Coming soon: savings and remittance products through its neobank interface. These target countries where traditional banking is slow, expensive, or hard to access.
Pathy says stablecoins clearly solve cross-border payment frictions. They fix accessibility issues. But previous platforms failed to deliver intuitive experiences. Kast’s designed specifically for mainstream customers. Make it straightforward.
The company’s growth trajectory is wild. It only disclosed a $10 million seed round in late 2025. Now it’s valued at $600 million. That’s strong investor confidence in stablecoin infrastructure.
Broader crypto markets have cooled. Bitcoin’s trading roughly 46% below its 2025 all-time high.
But stablecoin adoption keeps accelerating. Industry data shows transfer volume hit a record $1.8 trillion in February.
Circle’s USDC accounted for about 70% of that volume. That’s $1.26 trillion. Tether’s USDt processed around $514 billion. Real-world usage is rising beyond speculative trading.
Kast’s valuation highlights a broader industry shift. Practical payment and banking applications. Companies like Kast are positioning themselves as crypto-era banks. They’re competing with legacy institutions on speed, global reach, and 24/7 availability.
Kast needs to execute its licensing strategy. Build out products. Then it could deepen stablecoin integration into everyday finance. Emerging markets and developed markets. Both.
