KAST, a financial platform built on stablecoin rails, has raised $80m in a Series A round co-led by QED Investors and Left Lane Capital, reported on 9 March 2026 by Built In, Pulse 2.0 and Electronic Payments International. Existing investors Peak XV Partners, HSG and DST Global Partners also took part.
Electronic Payments International said the fundraising valued KAST at $600m, citing a Bloomberg report that relied on people familiar with the matter. The company itself did not confirm a valuation in the coverage reviewed.
Pulse 2.0 reported that Sandeep Patil, a partner at QED Investors, will join KAST's board as part of the deal. Pulse 2.0 also quoted Nigel Morris, co-founder and managing partner at QED, and Matthew Miller, managing partner at Left Lane Capital, in support of the company's plans.
“Our end game is clear: to be the leading neobank for the stablecoin world, both for consumers and businesses.”Raagulan Pathy, Founder and CEO, KAST
What KAST does
KAST offers USD-denominated accounts and global pay-ins and payouts to more than 190 countries, according to Pulse 2.0. Its consumer and business tools settle over stablecoins rather than traditional banking infrastructure. The company describes itself as a global stablecoin neobank.
It was founded in July 2024 by Raagulan Pathy, a former Circle executive. Pathy is the founder and chief executive.
Pulse 2.0 said the platform provides a growing set of consumer and business financial tools, and that the company aims to serve consumers and businesses operating across borders, particularly in regions where traditional banking infrastructure creates friction for cross-border payments and dollar-based services.
Where KAST is based is reported differently: Electronic Payments International said its leadership is based in Singapore, while Built In called it a New York-based company. This article therefore gives no city.
Growth claims
Pulse 2.0 reported that KAST has more than one million users and is processing nearly $5bn in annualised transaction volume. The company expects revenue to reach a $100m annual run rate in 2026. It said users and revenue are each growing about 15% to 20% month over month, and that revenue has doubled since the end of September 2025. These figures come from the company and have not been independently verified.
KAST also said it has hired more than 250 staff across engineering, compliance and operations, including recruits from Stripe, Revolut, Binance, Circle and Airwallex.
What the money is for
KAST said it will use the Series A to expand across Latin America, North America and the Middle East, and to speed up licensing, compliance, product development and hiring. The Block reported that the plans include launching KAST Business.
Pathy said the round, raised less than 18 months after launch, reflects investor confidence in the stablecoin neobank thesis and in the company's ability to carry it out at global scale.
Pulse 2.0 also cited Artemis Analytics data that global stablecoin transaction volume rose 72% last year to more than $33tn, which it said exceeded the combined on-chain settlement volumes of major card networks. Matthew Miller, managing partner at Left Lane Capital, said in the statement that 2026 could be an inflection point as consumer-facing platforms bring stablecoin infrastructure to the mainstream.
Company website: kast.xyz