QED Investors and Left Lane Capital have co-led an $80 million Series A funding round for KAST, a payments start-up that enables people and businesses to transact with stablecoins.

Returning investors DST Global Partners and Peak XV Partners supported the round, alongside HongShan Capital, which co-led a $10 million seed round for KAST in December 2024.

According to Bloomberg, which cites undisclosed sources familiar with the matter, this latest Series A raise values KAST at approximately $600 million.

KAST offers USD-denominated accounts and debit cards built on stablecoin rails that allow pay-ins and pay-outs to 190+ countries worldwide.

The start-up is the brainchild of former Circle chief Raagulan Pathy, the same founder behind JaffCap, OnShop, and Lazu, a cloud platform exited in July 2013.

KAST now reports over one million users and nearly $5 billion in annualised transaction volume since its inception in July 2024.

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The company says it “expects revenue to reach $100 million annual run rate in 2026”, adding that “revenue has doubled since the end of September 2025”.

With this, funds from the Series A will be used to “expand across Latin America, North America and the Middle East, as well as accelerating licensing, compliance, product development and headcount growth”.

Headcount currently stands at around 250 across engineering, compliance and operations, with leadership based between Singapore and the UAE.