Stablecoin payments startup Kast has raised $80 million in funding at a $600 million valuation, Cointelegraph reported on March 9, citing Bloomberg.
The funding round was co-led by QED Investors and Left Lane Capital. Kast expects annualised revenue of $100 million in 2025.
Kast plans to use the funds from the round to expand its business into North America, Latin America and the Middle East. It also plans to hire staff, secure licences and develop new products.
Kast provides payment cards and U.S. dollar accounts in more than 150 countries and plans to launch savings and remittance services through a neobank interface. Co-founder Rahulun Fasee (라굴란 파시) said stablecoins would be a solution at a time when banking systems cannot keep up with the openness and speed offered by the internet, and stressed that Kast was created to innovate this.
Chi-gyu Hwang
delight@d-today.co.kr