KAST, a stablecoin infrastructure firm, has secured a significant $80 million in a Series A funding round co‑led by QED Investors and Left Lane Capital. After this investment, the company’s estimated total value is about $600 million, as it mainly supports the expansion of its stablecoin‑powered financial platform
According to the KAST announcement on March 9, this Series A funding will fuel expansion across North America, Latin America, and the Middle East, while also accelerating product growth this year with the launch of KAST Business and other services.
As a firm, it was founded in July 2024 by former Circle Vice President Raagulan Pathy. He said, “The latest funding, raised less than 18 months from launch, reflects the confidence of leading investors in the stablecoin thesis and in KAST’s ability to execute it at a global scale.”
As per the website, the company enables users to store, earn, and spend digital dollars via Visa-supported cards. Also, Bloomberg reported that this KAST Series A funding values KAST at $600 million, with the company projecting an annual revenue run rate of $100 million this year.
In the meantime, institutional capital is increasingly joining the stablecoin payments market, as Rain, a stablecoin infrastructure company valued at $1.95 billion, raised $250 million on January 9. The business stated that it would use the funds to grow in Europe, Asia, Africa, and North and South America.
Meanwhile, stablecoin regulation is taking shape in the U.S. On February 25, OCC issued a notice of proposed rulemaking to implement the GENIUS Act and is seeking public feedback on the proposal over the next 60 days. The framework aims to establish clear rules for payment stablecoin issuers and expects GENIUS Act can take effect as early as January 2027.
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