Kast Secures $80M Investment Round With $600M Valuation: Sources
Payment infrastructure firm Kast has obtained new capital to fuel its expansion strategy targeting markets in North America, Latin America and the Middle East with stablecoin banking solutions.
According to a Monday Bloomberg report citing sources with knowledge of the transaction, Kast, a payments firm focused on stablecoins, has successfully completed an $80 million funding round that places the company's valuation at $600 million.
QED investors and Left Lane Capital jointly led the investment round, while Bloomberg sources indicate that Kast anticipates achieving an annual revenue run rate of approximately $100 million throughout 2025.
Sources familiar with the matter indicate that the fresh capital will be deployed to fuel the company's expansion efforts throughout North America, Latin America and the Middle East. Additionally, Kast plans to increase its workforce, obtain necessary regulatory licenses and build new product offerings.
The successful capital raise demonstrates continued strong interest from investors in payment companies centered on stablecoins, despite recent pullbacks across the wider cryptocurrency sector. Bitcoin (BTC) has declined roughly 46% from the all-time peak of $126,198 it achieved on Oct. 6, 2025.
Cointelegraph reached out to Kast seeking additional comments but had not received a reply at the time of publication.
Banking efficiency can be improved through stablecoins: Kast co-founder
Earlier, Kast secured $10 million through a seed funding round that was publicly disclosed on Nov. 28, 2025, with HongShan Capital Group (HSG) and Peak XV Partners serving as co-leads.
The platform provides users across more than 150 countries with access to payment cards and accounts denominated in US dollars, while also developing savings and remittance products that will be available through its neobank interface.
For most countries and over half of global GDP, banking does not match the openness and speed of the internet, it's fundamentally broken. Stablecoins are the clear solution, but the user experience wasn't great. We are building Kast to change this.
Raagulan Pathy, Kast co-founder
Stablecoin transfer volume hits $1.8 trillion record
This investment round arrives at a time when stablecoin adoption continues its upward trajectory. Data from provider Allium shows that stablecoin transfer volume reached an all-time high of $1.8 trillion during February.
USDC (USDC), the stablecoin issued by Circle, registered $1.26 billion in transfer volume, representing 70% of all stablecoin transactions during the period.
Meanwhile, USDt (USDT), the leading stablecoin by market capitalization from Tether, posted approximately $514 billion in transaction volume throughout the month of February.