KAST Raises $80M as Stablecoin Payments Race Heats Up

Stablecoin payments startup KAST announced Monday it has closed an $80 million Series A funding round, valuing the company at $600 million – a striking jump from its $10 million seed raise just over a year ago.

The round was co-led by QED Investors and Left Lane Capital. KAST’s previous funding, secured in late 2024, was backed by HongShan Capital and Peak XV Partners.

The company says it has now crossed 1 million onboarded users and is processing close to $5 billion in annualized transaction volume. It projects a $100 million annual revenue run rate by end of 2026, with monthly user and revenue growth currently running between 15 and 20 percent.

KAST employs over 250 people, drawing talent from Stripe, Revolut, and Circle – firms that have defined the digital payments landscape over the past decade.

The fresh capital will be directed toward geographic expansion into North America, Latin America, and the Middle East, as well as the launch of KAST Business, a product aimed at enterprise cross-border payments. A significant portion of the funding is also earmarked for regulatory licensing and compliance infrastructure – an increasingly non-negotiable cost of doing business in the stablecoin space.

Investors framed 2026 as a potential turning point for the sector. The thesis: stablecoins are graduating from backend settlement rails into consumer-facing financial products that could rival traditional neobanks.

The timing aligns with broader market data. Global stablecoin supply reached a record $313 billion in March 2026, while annual stablecoin payment volumes hit $390 billion – with Asia accounting for roughly 60 percent of activity. Institutional adoption is accelerating in parallel, with Visa and Mastercard both integrating stablecoin settlement to sidestep the inefficiencies of legacy banking infrastructure.

M&A activity in the space is picking up as well. Stripe’s acquisition of Bridge in 2025 signaled that major fintech players are moving to consolidate stablecoin infrastructure before the market matures further.

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