NEW YORK — March 9, 2026
Executive Summary
KAST, a financial platform built on stablecoin infrastructure, has announced the completion of an $80 million Series A funding round co-led by QED Investors and Left Lane Capital, with participation from returning investors Peak XV Partners, HSG, and DST Global Partners. The company was founded by former Circle executive Raagulan Pathy and operates a financial platform designed to provide global financial services using stablecoin-based settlement rails.
The funding comes amid growing investor interest in stablecoins as an infrastructure layer for financial services. According to the company, the new capital will support geographic expansion and operational growth across Latin America, North America, and the Middle East, while also supporting licensing initiatives, compliance capabilities, product development, and team expansion.
Founded in July 2024, KAST offers USD-denominated accounts, global pay-in and payout capabilities across more than 190 countries, and a suite of consumer and business financial tools built on stablecoin rails. The company reports that its platform has reached more than one million users and processes approximately $5 billion in annualized transaction volume.
Announcement Overview
KAST announced the closing of an $80 million Series A funding round, representing one of the company’s largest financing milestones since its founding in 2024. The round was co-led by QED Investors and Left Lane Capital, with additional participation from existing investors Peak XV Partners, HSG, and DST Global Partners.
The financing was announced as investor interest in stablecoin-based financial infrastructure continues to expand. According to the company, the funding reflects increasing attention from institutional investors toward stablecoins as a foundation for financial services that enable global payments, cross-border financial activity, and digital account infrastructure.
KAST operates a financial services platform built on stablecoin settlement rails rather than traditional banking settlement networks. Through the platform, users can access USD-denominated financial accounts and send or receive payments across more than 190 countries.
The company indicated that the capital will be used to support expansion initiatives across Latin America, North America, and the Middle East, while also enabling investments in licensing and regulatory compliance, product development, and workforce expansion.
KAST stated that its platform provides consumer and business financial tools designed for globally mobile individuals and organizations. These tools are designed to support global payments and financial management services using stablecoin-based infrastructure.
Key Announcement Details
- Announcement Type: Series A funding announcement
- Announcement Date: March 9, 2026
- Company: KAST
- Company Description: Global financial platform built on stablecoin rails
- Company Founder: Raagulan Pathy
- Founder Background: Former Circle executive
- Company Founding Date: July 2024
- Company Headquarters Mentioned in Announcement: New York, United States
Funding Information
- Funding Round: Series A
- Total Funding Raised: $80 million
- Lead Investors: QED Investors and Left Lane Capital
- Participating Investors: Peak XV Partners, HSG, and DST Global Partners
- Returning Investors: Peak XV Partners, HSG, and DST Global Partners
Board and Investor Participation
- New Board Participant: Sandeep Patil
- Board Participant Role: Partner at QED Investors
- Board Participation Context: Joining the KAST board following the Series A investment
Platform and Product Infrastructure
- Platform Architecture: Financial platform built on stablecoin rails
- Settlement Infrastructure: Stablecoin-based financial settlement infrastructure
- Alternative to: Legacy financial settlement networks
- Primary Account Offering: USD-denominated financial accounts
- Payment Capabilities: Global pay-ins and payouts
- Platform Coverage: Financial access across more than 190 countries
- Financial Services Provided: Consumer financial tools and business financial tools
Platform Usage and Operational Metrics
- User Base: More than one million users
- Annualized Transaction Volume: Approximately $5 billion
- Revenue Growth Trend: Revenue has doubled since the end of September 2025
- User Growth Rate: Approximately 15–20 percent month-on-month
- Revenue Growth Rate: Approximately 15–20 percent month-on-month
- Projected Revenue Milestone: $100 million annual revenue run rate expected in 2026
Capital Deployment Plans
- Primary Use of Funding: Support company expansion
- Geographic Expansion Regions:
- Latin America
- North America
- Middle East
- Operational Areas Receiving Investment:
- Licensing
- Compliance
- Product development
- Headcount growth
Workforce and Hiring
- Total Employees: More than 250 employees
- Hiring Functions:
- Engineering
- Compliance
- Operations
- Recruitment Sources:
- Stripe
- Revolut
- Binance
- Circle
- Airwallex
Market Context Referenced in Announcement
- Stablecoin Market Data Source: Artemis Analytics
- Stablecoin Transaction Growth: Global stablecoin transaction volume increased 72 percent year-over-year
- Total Global Stablecoin Transaction Volume: More than $33 trillion
- Comparison Mentioned: Stablecoin settlement volumes exceeded the combined on-chain settlement volumes of major global card networks
Demand Drivers Mentioned by the Company
- Geographic Demand Context: Emerging markets
- User Segment Mentioned: Internationally mobile workforces
- Demand Characterization: Demand for fast, dollar-denominated money movement
- Infrastructure Comparison: Traditional correspondent banking infrastructure
Platform Mission and Strategic Objective
- Company Mission: Build financial services powered by stablecoins
- Strategic Objective Stated by Leadership: Become a leading neobank for the stablecoin ecosystem
- Target Segments Mentioned by Leadership:
- Consumers
- Businesses
- Founders
- Creators
- Globally mobile individuals
Investor Commentary Participants
- Nigel Morris: Co-Founder and Managing Partner, QED Investors
- Sandeep Patil: Partner, QED Investors
- Matthew Miller: Managing Partner, Left Lane Capital
Investor Perspectives Referenced
- Investor Viewpoint: Stablecoins viewed as a foundational layer for modern financial services
- Investor Characterization: Stablecoins described as an always-on dollar layer for moving and holding value across borders and assets
- Investor Industry View: Stablecoins emerging as critical infrastructure within the global financial system
- Investor Outlook: 2026 described as a potential inflection point for consumer-facing stablecoin platforms
Strategic Context
The funding announcement comes as stablecoin adoption continues to expand across financial services and cross-border payment infrastructure. According to the company, stablecoin usage has increased globally, particularly in emerging markets and among internationally mobile workforces seeking faster and dollar-denominated methods of transferring value.
KAST stated that demand for cross-border financial services using stablecoin rails is growing in markets where traditional correspondent banking systems can introduce delays or operational complexity. The company’s platform uses stablecoin infrastructure rather than legacy settlement networks to facilitate payments and financial transactions.
According to data cited by the company from Artemis Analytics, global stablecoin transaction volume increased 72% during the previous year, reaching more than $33 trillion. The data indicates that the volume exceeded the combined on-chain settlement volumes of major global card networks.
The company said this trend reflects increasing use of stablecoins in financial activity beyond cryptocurrency trading and crypto-native applications.
KAST reported that since launching its platform, it has expanded its operations and workforce to support the growth of its financial services platform. The company has hired more than 250 employees across engineering, compliance, and operational functions.
These hires have been recruited from financial technology and financial services companies including Stripe, Revolut, Binance, Circle, and Airwallex.
Platform Growth and Operational Expansion
Since launching its platform in 2024, KAST reports that it has scaled its user base to more than one million users and now processes approximately $5 billion in annualized transaction volume.
The company stated that both its user base and revenue have been expanding at a pace of approximately 15–20 percent month-on-month. According to the company, revenue has doubled since September 2025, and KAST expects revenue to reach a $100 million annual run rate during 2026.
KAST indicated that the new capital will allow the company to accelerate product development and expand operational capacity in multiple regions. The company also plans to continue investing in regulatory licensing and compliance infrastructure to support operations across multiple markets.
In addition to geographic expansion, the company stated that it will continue hiring across engineering, compliance, and operational teams.
Leadership Statements
Speaking on the investment, Raagulan Pathy, Founder and Chief Executive Officer of KAST, 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.
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.”
Nigel Morris, Co-Founder and Managing Partner at QED Investors, said:
“Stablecoin technology holds the potential to reshape the future of finance. We are thrilled to lead this round at KAST, and I am particularly pleased that Sandeep Patil will be joining the board to support them in scaling with the discipline of a true financial institution. KAST has a clear ambition and strong execution, and we look forward to being part of their growth journey.”
Sandeep Patil, Partner at QED Investors, added:
“Fintech is a trust business disguised as software, and stablecoins are rapidly becoming the always-on dollar layer for moving and holding value across borders and assets. KAST is building on this layer with a clear wedge and already showing strong customer traction. I am excited to partner with Raags and the team as they scale KAST into a stablecoin-native financial institution.”
Matthew Miller, Managing Partner at Left Lane Capital, said:
“Over the past several years, we’ve seen stablecoins emerge as critical infrastructure within the global financial system. We believe 2026 could represent a meaningful inflection point as consumer-facing platforms begin bringing that infrastructure to the mainstream. Individuals and businesses operating across borders deserve a seamless way to bank, spend, and save – without hidden fees, friction, or exposure to currency depreciation. KAST combines a forward-looking regulatory posture, a compelling product and brand, and an exceptional executive team to capitalize on this generational opportunity. We’re proud to partner with Raags and the entire KAST team as they enter this next phase of growth.”
About KAST
KAST is a global financial platform built on stablecoin rails and founded by former Circle executive Raagulan Pathy. The company was established in July 2024 and focuses on delivering financial services that operate on stablecoin-based infrastructure rather than traditional settlement networks.
The platform provides USD-denominated accounts, enabling users to hold and move dollar-based value through stablecoin rails. KAST also supports global pay-ins and payouts, allowing individuals and businesses to send and receive funds across international markets. Through this infrastructure, the platform facilitates financial access and payments capabilities spanning more than 190 countries.
In addition to payment capabilities, KAST offers a growing suite of financial tools for both consumers and businesses. These services are designed to support cross-border financial activity and global financial participation through stablecoin-based infrastructure.
Since launching its platform, KAST reports that it has expanded to more than one million users and currently processes approximately $5 billion in annualized transaction volume. The company has also reported continued growth across both its user base and transaction activity as adoption of stablecoin-based financial services increases.
To support the development and operation of its platform, KAST has expanded its workforce to more than 250 employees across engineering, compliance, and operations. The company has recruited team members from financial technology and financial services firms including Stripe, Revolut, Binance, Circle, and Airwallex.
Media Contact
For additional information, visit kast.xyz.
Source Attribution
Source: Company announcement