#USA #New York #stablecoin #KAST #Raagulan Pathy

KAST Secures $80 Million in Series A Funding

KAST, a pioneering global financial platform founded by former Circle Executive Raagulan Pathy, has successfully raised $80 million in a Series A funding round. This investment was co-led by QED Investors and Left Lane Capital, with notable participation from returning backers like Peak XV Partners, HSG, and DST Global Partners. This funding comes in the wake of a notable uptick in stablecoin usage across the globe, particularly within emerging markets and mobile workforces, where there is a burgeoning demand for fast, dollar-denominated transactions that traditional banking systems often fail to meet.

The freshly acquired funds will enable KAST to enhance its operations in Latin America, North America, and the Middle East. This expansion includes a focus on licensing, compliance, product development, and growing the team. Since its inception in July 2024, KAST has rapidly evolved, offering USD-denominated accounts and cross-border pay-ins and payouts in over 190 countries. Its suite of consumer and business financial tools is built on stablecoin technology, distinct from outdated legacy banking systems.

KAST is not only gaining traction in usage; it boasts a customer base exceeding one million and manages an impressive annual transaction volume of nearly $5 billion. With projections indicating revenue could reach a $100 million annual run rate by 2026, the company is experiencing significant growth, with an increase in users and revenue approximating 15-20% month-on-month. Notably, KAST has doubled its revenue since September 2025.

According to industry insights provided by Artemis Analytics, global stablecoin transaction volumes surged by 72% last year, surpassing $33 trillion. This growth is reshaping traditional financial norms, and KAST is positioning itself as a crucial player in this evolving landscape. To support its expansion, the company has welcomed over 250 new employees, enhancing its engineering, compliance, and operations teams with talents sourced from renowned companies like Stripe, Revolut, Binance, Circle, and Airwallex.

Raagulan Pathy, KAST’s Founder and CEO, emphasized the significant backing from investors and stated, “The demand for stablecoin-based solutions represents a structural shift in finance, and our latest funding showcases this confidence.” According to him, KAST aims to revolutionize finance, targeting innovators and entrepreneurs overlooked by traditional banking systems. The overarching objective is to emerge as the leading neobank for the stablecoin sector, providing both individuals and businesses with seamless financial services.

Investment leaders from QED Investors, including Co-Founder Nigel Morris, voiced their excitement over the potential of stablecoin technology to redefine finance's future. He expressed strong support for KAST’s roadmap and the appointment of Sandeep Patil to their board, envisioning a disciplined approach as the firm scales. Similar sentiments were echoed by Matthew Miller, Managing Partner at Left Lane Capital, who noted the increasing importance of stablecoins within the global financial framework.

As 2026 approaches, KAST appears poised to surf the wave of innovation within the financial sphere, catering to the ever-changing needs of a global clientele seeking to bank, spend, and save in a more efficient and borderless manner. With a focus on transparency, user-centric products, and a formidable team, Raagulan Pathy and KAST are on an ambitious path to lead in the neobanking landscape, powered entirely by stablecoins.