Stablecoin payments company, Kast, has raised $80 million in a new funding round valuing the firm at $600 million, according to a report citing people familiar with the matter.
The round was co-led by QED Investors and Left Lane Capital, and comes as investor interest in stablecoin-based payment infrastructure continues to grow despite volatility in broader crypto markets.
Kast, which offers U.S. dollar-denominated accounts and payment cards to users in more than 150 countries, plans to use the fresh capital to expand across North America, Latin America and the Middle East, while also hiring staff, securing licenses and building new products.
“For most countries and over half of global GDP, banking does not match the openness and speed of the internet, it’s fundamentally broken,” said Kast Co-Founder Raagulan Pathy, following the seed round.
“Stablecoins are the clear solution, but the user experience wasn’t great. We are building Kast to change this,” he added.
The company is targeting an annual revenue run rate of around $100 million by 2025, reflecting rising demand for stablecoin-powered financial services and cross-border payments.
The funding follows a $10 million seed round announced in late 2025, as stablecoins gain traction globally as a faster and more accessible alternative to traditional banking rails.
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